| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers H > Headlines for Harsco Corp. > News item |
S&P cuts Harsco to BB+
Standard & Poor's said it lowered its corporate credit and debt issue ratings on Harsco Corp. to BB+ from BBB- and removed the ratings from CreditWatch, where they were placed with negative implications on Sept. 17.
The outlook is stable.
At the same time, the agency assigned recovery ratings of 3 (meaning average recovery [50%-70%] in a hypothetical default scenario) to the two rated senior unsecured issues, which it views as structurally subordinated.
S&P said it based the downgrade primarily on a reassessment of the company's business risk profile, which it now views as "fair." It previously considered the company's business risk profile to be "satisfactory."
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.