Moody's Investors Service has boosted the credit ratings of Waste Management, Inc. (NYSE: WMI) to investment grade from junk status, citing the firm's improved liquidity and strong cash generation despite a weak environment. Moody's raised Waste Management's long-term debt and liquidity ratings to "Baa3," its lowest investment grade rating, from "Ba1," its highest junk bond rating. The action affects about $7.8 billion in debt. The rating agency also assigned the company a "stable" outlook.
For more information: www.moodys.com.