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

CHICAGO--(BUSINESS WIRE)--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.

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