Home | Business News | Browse by Publication | B | Business Wire

Fitch Affirms Harsco Corp.'s IDR at 'A-'; Outlook Stable.

Publication: Business Wire
Publication Date: 26-AUG-09
Format: Online
Delivery: Immediate Online Access

Article Excerpt
CHICAGO -- Fitch Ratings has affirmed Harsco Corporation's (Harsco) (NYSE: HSC) ratings, as well as the unconditionally guaranteed debt of its wholly owned direct subsidiary Harsco Finance B.V., as follows:

Harsco Corporation

-- Issuer Default Rating (IDR) at 'A-';

-- Senior unsecured credit facilities at 'A-';

-- Senior unsecured debt at 'A-';

-- Short-term IDR at 'F2';

-- Commercial paper at 'F2'.

Harsco Finance B.V.

-- IDR at 'A-';

-- Senior unsecured debt at 'A-'.

The ratings affect approximately $1 billion of outstanding debt. The Rating Outlook is Stable.

The ratings incorporate Harsco's global diversification, well-established business portfolio, and conservative financial policies. The company has been able to generate free cash flow despite the sharp downturn experienced by its infrastructure and metals businesses, reflecting the company's flexibility with respect...

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!



More articles from Business Wire
Wolters Kluwer Financial Services Announces Details of 2009 CRA & Fair..., August 26, 2009
Fitch Affirms California's GO Rating at 'BBB'; Assigns Stable Outlook., August 26, 2009
Xcel Energy Names Fowke President and COO., August 26, 2009
Research and Markets: Methyl tertiary butyl ether World Market Outlook..., August 26, 2009
Cronus Partners Pleased to Announce Birken Manufacturing Company Finan..., August 26, 2009

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.