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Arch Coal Inc. Outlook Revised to Negative; Production, Demand Issues Cited Apr 03
Standard & Poors, April 2003
Abstract
NEW YORK (Standard & Poor's) April 23, 2003--Standard & Poor's Ratings Services said today that it has revised its outlook on coal producer Arch Coal Inc. to negative from stable. Standard & Poor's said that at the same time it affirmed its 'BB+' corporate credit rating on the company. St. Louis, Mo.-based Arch Coal had $705 million in debt at March 31, 2003. 'The outlook revision reflects Standard & Poor's concern over the company's rising unit production costs, coal demand, and upcoming contract negotiations for uncommitted 2004 production.', said Standard & Poor's credit analyst Dominick D'Ascoli. 'If coal prices do not improve and costs remain at existing levels, operating performance and credit protection measures will likely be adversely affected, which...
Companies mentioned in this report are: Arch Coal Inc.
Action: Outlook Revised
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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