S&P could lower Harsco

Standard & Poor's said it placed all of its ratings on Harsco Corp., including the BB corporate credit rating, on CreditWatch with negative implications.

"The CreditWatch placement follows Harsco's announcement that it plans to separate its Metals & Minerals (M&M) segment from the rest of the company," S&P credit analyst Jaissy Lorenzo said in a news release.

"The company is evaluating various options to complete the separation including the potential sale of the business or a tax-free spin-off transaction."

Harsco expects to commence a formal strategic review process in the next several weeks, though the company has not set a specific timetable for the strategic review.

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