S&P drops EnviroSolutions to D

Standard & Poor's said it lowered its corporate credit rating on EnviroSolutions Holdings Inc. to D from CCC and its senior secured revolving facility and first-lien term loan to D from CCC with 3 recovery ratings.

The action follows the news that the company and 21 of its affiliates have filed a pre-arranged petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York.

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