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Arch Western Finance LLC $250 Million Senior Notes Rated 'BB'; Arch Coal Inc. Ratings Affirmed Oct 04
Standard & Poors, Oct 2004
Abstract
NEW YORK (Standard & Poor's) Oct. 19, 2004-- Standard & Poor's Rating Services said today it assigned its 'BB' rating to Arch Western Finance LLC's $250 million 6.75% senior secured notes due July 1, 2013. At the same time, Standard & Poor's affirmed all its existing ratings on Arch Coal Inc. The outlook is stable. Proceeds from the bond offering as well as a $200 million common stock offering by Arch Coal will be used to pay down approximately $164 million of borrowings under the company's revolving credit facility and refinance a $100 million term loan. The new notes will be guaranteed by Arch Western Resources LLC. 'The ratings on Arch Coal reflect the company's vast and diversified base of...
Companies mentioned in this report are: Arch Coal Inc.,Arch Western Resources LLC,Arch Western Finance LLC
Action: Affirmed
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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