S&P trims US Ecology

S&P said it downgraded US Ecology Inc. to BB- and revised the outlook to negative.

“We expect the broad economic recession to pressure US Ecology's operating performance over the next 12-18 months. In light of the Covid-19 pandemic and plunge in oil prices, S&P Global Ratings expects a U.S. recession with a 5.2% contraction in real GDP for 2020. Given this challenging backdrop, we expect US Ecology's operating performance will be meaningfully weakened this year because of its broad exposure to cyclical end markets and regulation mandated closures through most of the second quarter of 2020,” S&P said in a press release.

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