S&P changes ADS Waste to positive

Standard & Poor's said it affirmed its B corporate credit rating and all of its other ratings on ADS Waste Holdings Inc., the holding company of solid waste services company Advanced Disposal Services Inc.

The outlook was revised to positive from stable.

S&P said the positive outlook reflects its view that the company is likely to complete its initial public offering and use a portion of the proceeds to reduce debt and maintain a financial risk profile that is appropriate for our rating.

Although the company's debt leverage was high as of Sept. 30, with a 6.2 times adjusted debt-to-EBITDA ratio, the agency estimates that pro forma for the IPO this figure could improve to less than 6 times, as it assumes that a portion of the term loan is repaid.

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