Moody's Upgrades Waste Management Credit Ratings

Date: April 3, 2003

Source: News Room

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.
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