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

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

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!