Safety-Kleen Systems 'B+' Rating Affirmed, Proposed Credit Facility Rated 'BB-' (Rec Rtg '2'), Outlook Revised To Stable Jan 12

  • ID: 2041580
  • January 2012
  • Standard & Poors
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  • JPMorgan Chase & Co.
  • Safety-Kleen Systems Inc.
  • MORE

U.S. industrial cleaning services supplier Safety-Kleen Systems Inc. is refinancing its credit facilities. We are affirming our ratings, including our 'B+' corporate credit rating, on Safety-Kleen and are revising our outlook to stable from negative. We are rating the company's proposed credit facilities 'BB-' with a recovery rating of '2'. The stable outlook reflects an improved debt maturity profile along with our expectation that Safety-Kleen's credit metrics will continue to remain sufficient for the ratings over the next year, helped by continued economic recovery, strength in oil prices, and operating efficiencies. NEW YORK (Standard & Poor's) Jan. 19, 2012--Standard & Poor's Ratings Services said today that it has affirmed its ratings, including the 'B+' corporate credit rating, on Plano, Texas-based...

Companies mentioned in this report are:
- Safety-Kleen Systems Inc.
- JPMorgan Chase & Co.

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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- Safety-Kleen Systems Inc.
- JPMorgan Chase & Co.

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