Harsco could face downgrade from Moody’s after cutting full-year earnings forecast

Harsco could face downgrade from Moody’s

NEW YORK — Moody’s Investors Service said Tuesday it may cut its credit rating for industrial services company Harsco Corp., citing the company’s earnings forecast for the year.

Moody’s has an investment grade “Baa1″ rating on Harsco but said its rating outlook on the company is now “Negative,” down from “Stable.”

The agency pointed to Harsco’s earnings guidance for the full year, which the company was forced to trim at the end of last month because of weakness in its infrastructure business.

Harsco expects earnings of $1.55 to $1.65 per share from continuing operations for 2010, down from a previous forecast of $2.00 to $2.10 per share.