Advanced Disposal Services, Inc. (“Advanced Disposal”), headquartered in Jacksonville, Florida, is a vertically integrated regional environmental services company that specializes in the collection, recycling, transportation and disposal of non-hazardous solid waste and construction and demolition waste (“C&D”) throughout the eastern United States. Advanced Disposal owns and/or operates landfills, transfer stations, material recycling and collection operations in Alabama, Florida, Georgia, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Tennessee and Vermont. For the year ended 12/31/2011, the Company had revenues and EBITDA of $350.8 million and $100 million, respectively. For the year ended 12/31/2010, the Company had revenues and EBITDA of $321.8 million and $89.5 million, respectively.
The Company has a syndicated line of credit with Bank of America as the lead bank. The current terms of the revolving line of credit allow Advanced Disposal to borrow based upon a multiple of cash flow, with pro forma adjustments for acquisitions and new municipal contracts. Advanced Disposal has never defaulted on a loan or performance/payment bond. In addition, Advanced Disposal has never declared bankruptcy.
One of the most important characteristics of surety requirements is the financial strength of the surety company. As your partner in business, we understand the needs of you, our customer, and have built a program which allows us to be responsive and flexible to satisfy the unique surety requirements of the waste industry. The financial strength of our surety partners is consistently rated among the highest rankings by the surety industry’s leading analysts. We are proud to say that our partners have ratings up to A+ by the A.M. Best rating company.