Waste Management Inc.'s Proposed Senior Notes Rated 'A-'

NEW YORK (S&P Global Ratings) Nov. 5, 2020--S&P Global Ratings today assigned its 'A-' issue-level rating to Houston–based Waste Management Inc.'s proposed senior unsecured notes. The notes will be issued in four tranches with maturities in 2025, 2028, 2031, and 2050. We expect the company to use the proceeds to pay down the outstanding borrowings under its $3 billion 364-day revolving credit facility, which it used to finance the acquisition of Advanced Disposal Services Inc., as well as $400 million principal outstanding under its 4.6% senior notes due March 2021, and general corporate purposes. All of our other ratings on Waste Management, including our 'A-' long-term issuer credit rating and 'A-2' short-term rating, are unchanged. Criteria Corporates General:

...November 5, 2020 NEW YORK (S&P Global Ratings) Nov. 5, 2020--S&P Global Ratings today assigned its 'A-' issue-level rating to Houston¡based Waste Management Inc.'s proposed senior unsecured notes. The notes will be issued in four tranches with maturities in 2025, 2028, 2031, and 2050. We expect the company to use the proceeds to pay down the outstanding borrowings under its $3 billion 364-day revolving credit facility, which it used to finance the acquisition of Advanced Disposal Services Inc., as well as $400 million principal outstanding under its 4.6% senior notes due March 2021, and general corporate purposes. All of our other ratings on Waste Management, including our 'A-' long-term issuer credit rating and 'A-2' short-term rating, are unchanged....

Ratings Action