Fitch to give Harsco notes A-

Fitch Ratings said it expects to assign a rating of A- to $450 million of new 10-year senior unsecured notes to be issued by Harsco Corp.

Proceeds from the offering are expected to be used to reduce the amount of commercial paper outstanding, the agency said, adding that the rating reflects Harsco's diverse geographic presence, well-established market positions, relatively stable industrial services revenue and conservative financial policies.

Harsco has consistently improved its operating performance while refining its business portfolio, Fitch noted, adding that the company has increased both its EBITDA margins and cash flow from operations due to its continued attention to improving operating metrics.

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