Germany-based integrated waste management operator Alba Group PLC and Co. KG (Alba Group) is fully integrating its two business units, Alba AG and Interseroh SE. We are assigning our preliminary long-term corporate credit rating of 'BB-' to Alba Group, subject to the approval and registration of a Domination and Profit and Loss Transfer Agreement. We are also assigning a 'B' preliminary issue rating to the €200 million unsecured notes to be issued by Alba Group. The stable outlook reflects our view of the essential nature of waste management services, which should enable the consolidated group to at least sustain its current operating performance and leverage. On April 12, 2011, Standard&Poor's Rating Services assigned its preliminary long-term corporate credit
