Safety-Kleen Climbs
Safety-Kleen Corp. has been trading actively over the last two weeks as the company's term loan climbed up from the 143/4-153/4 range to the 17-18 level, said sources. The reason for the uptick could not be determined. Safety-Kleen received confirmation from the bankruptcy court for its plan of reorganization at the beginning of August and intended to emerge from bankruptcy during the third quarter of 2003, according to a company statement. But as the third quarter wraps up, Safety-Kleen has yet to emerge. The company filed for bankruptcy in June 2000. Larry Singleton, Safety-Kleen's cfo, and a company spokesman did not return calls.