The rating on American Rock Salt Co. LLC (ARS) reflects Standard&Poor's Ratings Services' assessment of the company's business risk profile as "vulnerable" and financial risk profile as "aggressive" (as our criteria define those terms). Our ratings on ARS reflect its limited diversity, seasonal demand, and mine concentration. The rating also takes into consideration our view that ARS should have adequate liquidity to meet its near-term obligations and that it benefits from its strategically located, recession-resistant business. We expect revenues will be nearly flat at about $225 million in fiscal 2011 and 2012, after increasing roughly 20% from 2010 levels due to successful bidding results and strong winter weather conditions. We expect adjusted EBITDA in the range of $75-$85
