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Research Update: Arch Coal Inc. 'BB-' Rating Placed On Watch Developing On Acquisition Plans; International Coal On Watch Positive May 11 Product Image

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

Abstract
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

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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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