Fitch Expects to Rate Synagro-Baltimore's Revenue Refunding Bonds 'BBB+'

2008-06-20 23:52:06 -

- Fitch Ratings expects to assign a rating of 'BBB+' with a Stable Outlook to Synagro-Baltimore LLC's (Synagro) proposed issuance of $26.15 million tax-exempt series 2008 A and taxable series 2008 B revenue refunding bonds (the bonds). The Maryland Industrial Development Financing Authority will issue the bonds on behalf of Synagro. The proceeds of the proposed issuance will be used to refinance existing indebtedness.

The Carlyle Group, through its subsidiary Synagro Technologies Inc., indirectly owns a 100% interest in Synagro.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.

Fitch Ratings, Chicago
Chris Joassin, +1-312-368-3166
Greg Remec, +1-312-606-2339
Christopher Kimble, +1-212-908-0226
(Media Relations, New York)