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Orange County <br />367-OC5451 - Recycling Processor and/or Municipal Solid Waste Disposal <br />26 <br />11 | FINANCIAL CAPABILITY AND INSURANCE <br />This section must include an indication of financial capability for handling services to be delivered, including Insurance Coverage. <br />Insurance coverage requirements are listed in the County Contract, Services Agreement RFP/RFQ. <br />Financial Strength: The Foundation for Our Commitment <br />As a wholly–owned, indirect subsidiary of Waste Management, Inc., Recycle America Co., L.L.C. & Waste <br />Management of Carolinas, Inc. does not report financial results. All financial reporting occurs through our <br />parent entity. As a publicly traded company, Waste Management is held to the most stringent regulations <br />for accurate and timely financial disclosure. <br />Revenue in 2019 was $15.46 billion, and Waste Management has an asset base of $27.7 billion. The <br />company generates strong and consistent cash flow and has access to an extensive line of credit. Waste <br />Management’s financial strength is the foundation for our <br />commitment to serve our customers, perform our obligations, <br />and protect the environment in carrying out our broad waste <br />management services. <br />Waste Management has achieved solid investment-grade credit ratings from three major rating agencies. <br />Most recently, the company has been assigned ratings of A-/A-2 by Standard & Poor’s, BBB+ by Fitch, <br />and Baa1 by Moody’s. The ratings are based on expectations that management will maintain good <br />liquidity, pursue a moderate financial policy, and allocate capital in a disciplined manner. The credit <br />outlook from each agency for Waste Management is characterized as stable. <br />Waste Management’s financial strength, as summarized above, gives Orange County assurance that we <br />can and will fulfill our obligations. <br />•Waste Management is committed and financially able to perform all operations in full compliance <br />with applicable federal, state, and local regulations and to provide clear documentation of that <br />compliance. <br />•Waste Management offers the most extensive network providing waste management services in <br />North America, including transportation, disposal, treatment, recovery, remediation, waste <br />identification, and several other specialty services. This network enables us to provide a single <br />source of responsibility, from transportation through disposal of waste. <br />•Typically, new capital requirements are internally financed by Waste Management using cash <br />flow from existing operations - freeing our new trucks, carts, containers, and facility investments <br />from the timelines and terms of third-party creditors. <br />Waste Management's financial strength helps us to continually advance services for all of the customers <br />we serve, including Orange County, and we are committed to maintaining that strength. <br />Full financial results are available on <br />our website at investors.wm.com. <br />Docusign Envelope ID: 3C46D4D9-4262-4835-B314-9FEB472CCC00