Moody's lowers Waste Pro view to negative

Moody's Investors Service said it affirmed the B2 corporate family rating, B2-PD probability of default rating and the B3 (LGD 4) senior unsecured notes rating of Waste Pro USA, Inc.

The outlook was revised to negative from stable.

The ratings reflect Waste Pro's stable and growing revenue stream, highlighted by new contract wins and the company's strong presence in the Southeastern United States, a region of the country that continues to experience greater population, job and construction growth, Moody's said.

The outlook revision reflects Waste Pro's earnings and cash flow underperformance relative to expectations, the agency said.

This was due largely to significantly higher year-over-year operating costs, Moody's said.

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