• SELECT SITE CURRENCY
Select a currency for use throughout the site
Research Update: Xinergy Corp. Assigned 'B-' Corporate Credit Rating, Stable Outlook On High Debt, Adequate Liquidity; Notes Rated 'B-' May 11
Standard & Poors, May 2011
Central Appalachian coal producer Xinergy Corp. successfully closed its $200 million offering of senior secured notes. The company plans to use proceeds to develop coal properties. We are assigning our 'B-' corporate credit rating to Xinergy, as well as our 'B-' issue-level rating to its $200 million senior secured notes due 2019. The stable rating outlook reflects the liquidity cushion provided by the offering. On May 26, 2011, Standard & Poor's Ratings Services assigned its 'B-' corporate credit rating to Knoxville, Tenn.-based Xinergy Corp. The rating outlook is stable. At the same time, we assigned a 'B-' issue-level rating (the same as the corporate credit rating) to the company's $200 million senior secured notes due 2019. The recovery rating on...
Companies mentioned in this report are: Xinergy Corp.
Action: New Rating
Action: Outlook: Stable
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.