RUTLAND, VT, Jul 24, 2009 (MARKETWIRE via COMTEX News Network) -- Casella Waste Systems, Inc. (NASDAQ: CWST), a regional solid waste, recycling and resource management services company, announced today that the company's independent registered public accounting firm, Caturano and Company, P.C., has eliminated its going concern opinion from the company's Annual Report. The company filed an amendment to its Annual Report on Form 10-K for the year ended April 30, 2009, reflecting both the elimination of the going concern paragraph as well as the completion of the company's recent note offering and refinancing.

"Filing the amended 10-K with a clean opinion marks the culmination of our successful effort to refinance our senior secured credit facility," John W. Casella, chairman and CEO of Casella Waste Systems, said. "With the refinancing completed, our next significant debt maturity is now in December 2012, eliminating concerns regarding our ability to meet ongoing capital needs."

Following the closing of the amended and restated senior first lien credit facilities and the closing of the sale of the $180 million aggregate principal amount of senior second lien notes due 2014, Caturano and Company re-audited the company's financial statements for the fiscal year ended April 30, 2009 and determined that such an explanatory paragraph was no longer necessary or appropriate.

"We now have a capital structure in place that allows us to execute our intermediate strategy to reduce debt leverage and increase shareholder returns," Casella said. "We plan to meet these goals by further enhancing operating efficiencies, increasing pricing and profitably growing revenues, divesting non-core assets, and selectively investing in resource optimization solutions. These steps to improve operations and cash flows position us well not only for the current economic downturn, but also for an anticipated economic recovery and growth environment."

About Casella Waste Systems, Inc.

Casella Waste Systems is an integrated solid waste and resource management company headquartered in Rutland, Vermont. For further information, investors should contact Ned Coletta, director of investor relations at (802) 772-2239; media should contact Joseph Fusco, vice president at (802) 772-2247; or visit the company's website at http://www.casella.com.

Safe Harbor Statement

Certain matters discussed in this press release are "forward-looking statements" intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such by the context of the statements, including words such as Casella "believes," "expects," "anticipates," "plans," "may," "will," "would," "intends," "estimates" and other similar expressions, whether in the negative or affirmative. All of these forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which Casella operates and management's beliefs and assumptions. Casella cannot guarantee that it actually will achieve the plans, intentions or expectations disclosed in the forward-looking statements made. Such forward-looking statements, and all phases of Casella's operations, involve a number of risks and uncertainties, any one or more of which could cause actual results to differ materially from those described in its forward-looking statements. Such risks and uncertainties include or relate to, among other things: Casella may be unable to reduce costs or increase revenues sufficiently to achieve estimated EBITDA and other targets; landfill operations and permit status may be affected by factors outside its control; Casella may be required to incur capital expenditures in excess of its estimates; fluctuations in the commodity pricing of its recyclables may make it more difficult for Casella to predict its results of operations or meet its estimates; and Casella may incur environmental charges or asset impairments in the future. There are a number of other important risks and uncertainties that could cause Casella's actual results to differ materially from those indicated by such forward-looking statements. These additional risks and uncertainties include, without limitation, those detailed in Item 1A, "Risk Factors" in Casella's Form 10-K/A for the year ended April 30, 2009. Casella does not necessarily intend to update publicly any forward-looking statements whether as a result of new information, future events or otherwise, except as required.

Contact:
Ned Coletta
Director of Investor Relations
(802) 772-2239

Media Contact:
Joseph Fusco
Vice President
(802) 772-2247

SOURCE: Casella Waste Systems, Inc.

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