Waste Italia S.p.A. -- Moody's notes payment default at Waste Italia

London, 17 June 2016 -- Moody's Investors Service has today assigned a limited default (LD) indicator to Italian waste management company Waste Italia S.p.A.'s (Waste Italia) probability of default rating (PDR) of Ca-PD. The PDR has therefore been affirmed and changed to Ca-PD/LD (formerly Ca-PD) following the failure to pay -- at the end of the 30-day grace period -- the coupon on the senior secured notes issued by the company. Concurrently, Moody's has affirmed the corporate family rating (CFR) at Ca and the instrument rating on the senior secured notes at C. The outlook on all ratings remains negative.

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