Fitch affirms Harsco

Fitch Ratings said it affirmed Harsco Corp.'s issuer default, senior unsecured credit facilities and senior unsecured debt ratings at A-, and short-term issuer default rating at F2.

The outlook is stable.

Ratings incorporate Harsco's global diversification, well-established business portfolio and conservative financial policies, the agency said.

Harsco's sales and margins weakened materially beginning in the fourth quarter of 2008 and leverage rose to a somewhat weak level, Fitch said, with a debt-to-EBITDA ration of 1.6 times as of June 30.

Concerns are partly offset by recent stabilization in some of the company's markets and by the expectation that the company will realize a slow improvement in its operating performance as restructuring efforts take effect, the agency said.

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