On Jan. 10, 2007, Standard&Poor's Ratings Services placed its ratings, including its 'B' corporate credit rating, on American Rock Salt Co. LLC (ASRC) on CreditWatch with negative implications. The action reflects the Mount Morris, N.Y.-based company's very thin liquidity and weak operating performance stemming from the unprecedented mild weather in ARSC's upstate New York operating area. A mild winter so far has lowered the demand for the company's highway deicing salt, forcing ASRC to temporarily idle its lone mining operation. Although the company's availability on its $30 million asset-based revolving credit facility was $8 million on Sept. 30, 2006, its current liquidity position has weakened, as the lack of demand has resulted in negative free cash flow. While
