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Arch Coal Inc. Ratings Raised and Removed From CreditWatch; Outlook Now Positive Sep 01
Standard & Poors, Sep 2001
Abstract
NEW YORK (Standard & Poor's) Sept. 21, 2001--Standard & Poor's today raised its ratings on Arch Coal Inc. and removed them from CreditWatch where they were placed on May 4, 2001 (see list below). The current outlook is positive. The upgrade follows meaningful improvement in the company's capital structure as a result of equity offerings and subsequent deleveraging, and the expected improvement in financial performance as a result of higher coal prices and stronger fundamentals in the coal industry. Domestic spot coal prices have staged a dramatic rally following years of gradual declines. Notably, the recent spot price for Powder River Coal 8,800 Btu per pound, 0.8 sulfur dioxide, has rebounded from lows of $4.10 per ton in 2000, to...
Companies mentioned in this report are: Arch Coal Inc.
Action: Upgraded, Off CreditWatch
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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