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BULLETIN: Arch Coal Inc. Reports Second-Quarter Loss Jul 03
Standard & Poors, July 2003
Abstract
NEW YORK (Standard & Poor's) July 21, 2003--Standard & Poor's Ratings Services said today that Arch Coal Inc.'s (BB+/Negative/--) loss of $1.4 million in the second quarter, will have no impact on its current ratings or outlook on the company. Although the company's eastern operating costs decreased $1.55 per ton from the first quarter, they are still high at $2.55 per ton above the same period last year and $6.12 per ton above the second quarter of 2001. Additional realization of cost reductions is required for the company to maintain the current ratings. In addition, Arch is expected to partially finance the Triton acquisition with alternative sources as to provide a slight delevering of the company. Failure to accomplish either...
Companies mentioned in this report are: Arch Coal Inc.
Action: S&P Event
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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