VAUGHAN,
ON, April 2, 2024 /CNW/ - GFL
Environmental Inc. (NYSE: GFL) (TSX: GFL) ("GFL" or the "Company"),
a leading North American diversified environmental services
company, today announced that S&P Global Ratings ("S&P")
has upgraded GFL's issuer credit rating to 'BB-' from 'B+', while
maintaining a positive outlook.
"The rating upgrade from S&P is a testament
to the strong execution of our strategy to increase free cash flow
and de-lever the business", said Patrick
Dovigi, Chief Executive Officer and Founder of GFL. "We
remain committed to making disciplined capital allocation decisions
while continuing to focus on de-levering the business, with the
expectation that we will achieve an investment grade credit rating
before the majority of our fixed rate debt matures."
About GFL
GFL, headquartered in Vaughan, Ontario, is the fourth largest
diversified environmental services company in North America, providing a comprehensive line
of solid waste management, liquid waste management and soil
remediation services through its platform of facilities throughout
Canada and in more than half of
the U.S. states. Across its organization, GFL has a workforce of
more than 20,000 employees.
Forward-Looking
Statements
This press release includes certain
"forward-looking statements" within the meaning of applicable
securities laws, including statements relating to our achieving of
investment grade credit rating. In some cases, but not necessarily
in all cases, forward-looking statements can be identified by the
use of forward looking terminology such as "plans", "targets",
"expects" or "does not expect", "is expected", "an opportunity
exists", "is positioned", "estimates", "intends", "assumes",
"anticipates" or "does not anticipate" or "believes", or variations
of such words and phrases or statements that certain actions,
events or results "may", "could", "would", "might", "will" or "will
be taken", "occur" or "be achieved". In addition, any statements
that refer to expectations, projections or other characterizations
of future events or circumstances contain forward-looking
statements. Forward-looking statements are not historical facts,
nor guarantees or assurances of future performance but instead
represent management's current beliefs, expectations, estimates and
projections regarding future events and operating performance.
Forward-looking statements are necessarily based on a number of
opinions, assumptions and estimates that, while considered
reasonable by GFL as of the date of this release, are subject to
inherent uncertainties, risks and changes in circumstances that may
differ materially from those contemplated by the forward-looking
statements. Important factors that could cause actual results to
differ, possibly materially, from those indicated by the
forward-looking statements include, but are not limited to, the
factors described in the "Risk Factors" section of GFL's annual
information form for the 2023 fiscal year filed on Form 40-F and
GFL's other periodic filings with the U.S. Securities and Exchange
Commission and the securities commissions or similar regulatory
authorities in Canada. These
factors are not intended to represent a complete list of the
factors that could affect GFL. However, such risk factors should be
considered carefully. There can be no assurance that such estimates
and assumptions will prove to be correct. You should not place
undue reliance on forward-looking statements, which speak only as
of the date of this release. GFL undertakes no obligation to
publicly update any forward-looking statement, except as required
by applicable securities laws.
For more information:
Patrick Dovigi
+1 905-326-0101
pdovigi@gflenv.com
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SOURCE GFL Environmental Inc.
