Existing lenders of German waste management firm ALBA Group have provided an additional funding facility for the successful restructuring of the group over the medium term. We believe that, with the availability of this additional facility, ALBA Group can manage its liquidity needs for next 12-18 months. We are affirming our 'B' long-term corporate credit rating on ALBA Group and are removing all the ratings from CreditWatch with negative implications. The negative outlook reflects our view that the operating environment continues to be challenging and the group's headroom under its covenant remains limited. On June 3, 2015, Standard&Poor's Ratings Services affirmed its 'B' long-term corporate credit rating on Germany-based waste management firm ALBA Group PLC&Co. KG.
