London, 29 February 2016 -- Moody's Investors Service ("Moody's") has today downgraded the corporate family rating (CFR) to Caa3 from Caa2 and the probability of default rating (PDR) to Caa3-PD from Caa2-PD for Italian waste management company Waste Italia S.p.A. ("Waste Italia"). Concurrently, Moody's also downgraded the instrument rating of the EUR200 million senior secured notes to Ca from Caa2. The outlook on the ratings remains negative.

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