S&P: Clean Harbors notes BB+

Standard & Poor's said it affirmed its ratings, including the BB+ corporate credit rating on Clean Harbors Inc. and removed them from CreditWatch, where they were placed with negative implications on Nov. 1.

At the same time, the agency said it assigned a stable outlook.

In addition, the agency revised its recovery rating on the company's $800 million senior unsecured notes due 2020 to 3, from 4, and assigned its BB+ issue-rating and 3 recovery rating to the proposed $550 million senior unsecured notes due 2021.

"The affirmation and stable outlook reflect our view that while Clean Harbors' financial risk profile will deteriorate slightly due to the additional debt and environmental liabilities incurred with the proposed acquisition of Safety-Kleen, it should remain sufficient to support the current ratings," said S&P credit analyst James Siahaan in a news release.

© 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.