Moody's changes Newalta's outlook to stable; affirms Caa1 CFR
Rating Action: Moody's changes Newalta's outlook to stable; affirms Caa1 CFR. Global Credit Research- 27 Nov 2017. Approximately C $275 million of rated debt affected.Newalta is engaged in providing solutions to industrial customers to improve their environmental performance with a focus on recycling and recovery of products from industrial residues. These services are provided both through Co.'s network of facilities across Canada and at its customers' facilities where Co. mobilize its equipment and people to process material directly onsite. Co.'s customers operate in a range of industries including the oil and gas, petrochemical, refining, lead, manufacturing and mining industries. Co. operates in two segments, the Onsite and the Facilities.
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