S&P cuts Harsco

Standard & Poor's said that it lowered Harsco Corp.'s corporate credit rating to BBB+ from A-.

The outlook is stable.

The rating downgrade reflects the revised assessment of Harsco's business risk profile, which is characterized as satisfactory, following further deterioration in profitability in fiscal 2010, S&P said.

The ratings on Harsco reflect the company's satisfactory business risk profile, characterized by leading global positions and good geographic diversity in its fragmented, competitive and cyclical markets as well as its intermediate financial risk profile, the agency said.

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