Fitch affirms Harsco

Fitch said it affirmed Harsco Corp.’s long-term issuer default rating at BB and its secured revolver and term loan at BB+/RR1 following its announcement that it has agreed to acquire Clean Earth, Inc. for $625 million in cash and sell its Air-X-Changers business for $592 million in cash.

The company also announced that it plans to divest its other industrial businesses – IKG, which makes industrial grating products, and Patterson Kelly, which makes commercial boilers and water heaters.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.