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Recovery Report: Foundation Coal Corp.?s Recovery Rating Profile Mar 09

  • ID: 1787843
  • March 2009
  • Standard & Poors
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On March 25, 2009, Standard & Poor's Ratings Services kept its recovery rating on Foundation PA Coal Co.'s $300 million senior unsecured notes due 2014 following a review and update of the recovery analysis. The issue-level rating is 'B' (two notches below the corporate credit rating of the company) with a recovery rating of '6', which indicates our expectation of negligible (0% to 10%) recovery in the event of a payment default. Foundation Coal Corp. is the guarantor of this issue. In assigning recovery ratings, we simulate a payment default scenario that incorporates a borrower's fundamental business and financial risks inherent in its existing capital structure. Our methodology assumes that all committed debt is fully funded, but generally does not...

Companies mentioned in this report are:
- Alpha Natural Resources Inc.

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.

Research Type: Full Analysis

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- Alpha Natural Resources Inc.

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