- Language: English
- 97 Pages
- Published: October 2011
- Region: Germany
Research Update: Arch Coal Inc. 'BB-' Rating Placed On Watch Developing On Acquisition Plans; International Coal On Watch Positive May 11
- Published: May 2011
- Standard & Poors
U.S.-based Arch Coal Inc. has announced plans to acquire International Coal Group Inc. for approximately $3.4 billion in an all-cash transaction. Arch Coal intends to fund the acquisition through a combination of debt and equity. The company has indicated that it intends to use sufficient equity to retain its current 'BB-' corporate credit rating. We are placing the ratings on Arch Coal, including the 'BB-' corporate credit rating, on CreditWatch with developing implications. At the same time, we are also placing the ratings on International Coal Group Inc., including the 'B+' corporate credit rating, on CreditWatch with positive implications. In resolving the CreditWatch listings, we will monitor the progress made in completing the proposed transaction and the resulting capital structure...
Companies mentioned in this report are: Arch Coal Inc.,Arch Western Resources LLC,Arch Western Finance LLC,International Coal Group LLC,International Coal Group Inc.
Action: On CreditWatch:Developing
Action: On CreditWatch:Negative
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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Arch Coal Inc.,Arch Western Resources LLC,Arch Western Finance LLC,International Coal Group LLC,International Coal Group Inc.
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