DISTRESSED DAILY: Wastequip Debt Gets Riskier in Credit Turmoil

Rising materials costs will make trash-equipment maker Wastequip LLC less financially stable by pushing the company to burn more cash in order to produce its equipment amid growing sales just as credit market turmoil makes it harder for it to refinance a key revolving debt line, S&P Global Ratings said in a report.

Wastequip, based in Charlotte, North Carolina, faces higher costs for its basic materials like steel and resin as it hits its peak seasonal need for cash. The revolving credit facility that the company uses throughout the year will mature in March 2023. Refinancing that debt in ...