DBRS Discontinues Ratings of Newalta Corporation

DBRS Limited (DBRS) discontinued the Issuer Rating and the Unsecured Notes rating of Newalta Corporation (Newalta). The Issuer Rating of CCC (high) and Unsecured Notes rating of CCC (low) were both placed Under Review with Developing Implications on March 1, 2018, following Newalta’s announcement of an agreement to merge with Tervita Corporation (Tervita).

The ratings are being discontinued as all of Newalta’s outstanding debt has been repaid. DBRS notes the discontinuation of the ratings is not an expression of the credit quality of the issuer.

Notes:
The principal methodologies are Rating Companies in the Services Industry and DBRS Criteria: Recovery Ratings for Non-Investment Grade Corporate Issuers, which can be found on dbrs.com under Methodologies.

The rated entity or its related entities did participate in the rating process for this rating action. DBRS had access to the accounts and other relevant internal documents of the rated entity or its related entities in connection with this rating action.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.