ECOLAB <ECL> DEBT MAY BE DOWNGRADED BY S/P
Standard and Poor's Corp said it may
downgrade Ecolab Inc's 10 mln dlrs of BBB-plus subordinated
debt.
    The agency cited Ecolab's proposed acquisition of ChemLawn
Corp <CHEM> for 370 mln dlr. S and P said there are uncertain
returns on such a large investment for Ecolab as well as
increased credit risk, with debt leverage rising to more than
60 pct from 25 pct currently.
    But S and P noted that the acquisition would broaden
Ecolab's services. S and P said it would review management's
plans to sell assets and use proceeds to reduce debt.
 Reuter
