HARRISBURG, Pa., Nov. 7, 2007 (PRIME NEWSWIRE) -- Worldwide industrial services company Harsco Corporation (NYSE:HSC) announced today that it has successfully closed on a new $450 million, 364-day credit facility through a syndicate of banks led by JPMorgan Chase. The new facility replaces facilities totaling $325 million due to expire in December 2007.
"We are extremely pleased with the continued confidence of the global lending community in Harsco's financial strength and long-term outlook," said Salvatore D. Fazzolari, President and Chief Financial Officer (and CEO-designee effective January 1, 2008). "This facility, which was significantly oversubscribed, further assures the financial resources to meet Harsco's on-going operational requirements and growth initiatives." The new facility will augment the Company's existing credit agreements and serve as backup to Harsco's commercial paper program, rated A-2 by Standard & Poor's, P-2 by Moody's and F2 by Fitch Ratings.
Harsco Corporation is one of the world's leading diversified industrial services companies, serving major customers in the non-residential construction and infrastructure, steel and metals, energy and railway industries. The Company posted 2006 revenues of $3.4 billion and employs approximately 21,500 people worldwide. Harsco's common stock is a component of the S&P MidCap 400 Index and the Russell 1000 Index. Additional information about Harsco can be found at www.harsco.com.
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