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Alpha Natural Resources Inc.
Standard & Poors, Oct 2010
Abstract
Diverse product mix; Adequate liquidity position; and Large and diversified reserve base. Some mine concentration in the Powder River Basin; High-cost Central Appalachia mines; Somewhat aggressive growth strategy; and Inherent risks of coal mining. The 'BB' rating on Alpha Natural Resources Inc. (Alpha) reflects what Standard & Poor's Ratings Services considers to be the company's fair business risk profile and significant financial risk profile. These assessments reflect the company's production concentration and ongoing cost pressures, as well as the inherent operating risks of coal mining. A relatively diversified reserve and product base, adequate liquidity, and favorable long-term coal industry conditions somewhat temper these weaknesses. In addition, the rating incorporates our expectation that Alpha will maintain an aggressive growth strategy relative...
Companies mentioned in this report are: Alpha Natural Resources Inc. (New)
Action: Review
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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