...August 6, 2026 NEW YORK (S&P Global Ratings) Aug. 6, 2026--S&P Global Ratings today assigned its 'B-' issue- level rating and '3' recovery rating to WIN Waste Innovation Holdings Inc.'s proposed new $1.208 billion consolidated term loan B tranche due April 2029. The '3' recovery rating indicates our expectation for meaningful (50%-70%; rounded estimate: 65%) recovery in the event of a default. The refinancing will extend the company's $315 million revolver maturity by one year to January 2029 while extending the maturities of its existing term loans by one year. This will consolidate its two existing term loan B tranches into the new single term loan B tranche due April 2029. Our 'B-' issuer credit rating and positive outlook on WIN Waste are unchanged. We expect the company to sustain its improved operating performance. The positive outlook reflects our expectation that WIN Waste will improve its credit measures further this year following the maturity extensions and maintain S&P Global...
