Moody's changes Waste Management's outlook to positive; affirms Baa2; assigns P-2 short-term rating
New York, February 24, 2017-- Moody's Investors Service affirmed the senior unsecured rating of Waste Management, Inc. and the senior unsecured rating of Waste Management Holdings, Inc. at Baa2 and revised both rating outlooks to positive from stable. In a related action, Moody's assigned a P-2 Commercial Paper rating to WM as the company plans to initiate a $1.5 billion commercial paper program. The transition to a positive outlook reflects Moody's expectation that WM should...Waste Management is a holding company. Through its subsidiaries, the company is a provider of waste management environmental services. The company partners with its residential, commercial, industrial and municipal customers and the communities it serves to manage and reduce waste at each stage from collection to disposal, while recovering resources and creating renewable energy. The company's Solid Waste business is operated and managed by its subsidiaries that focus on various geographic areas and provide collection, transfer, disposal, and recycling and resource recovery services. Through its subsidiaries, the company is also a developer, operator and owner of landfill gas-to-energy facilities.
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