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Arch Coal Inc.'s Proposed $700 Million Credit Facility Rated 'BB+' (Recovery Rating: 1) Dec 04
Standard & Poors, Dec 2004
Abstract
NEW YORK (Standard & Poor's) Dec. 13, 2004--Standard & Poor's Rating Services said today it assigned its 'BB+' bank loan rating and '1' recovery rating to Arch Coal Inc.'s proposed $700 million revolving credit facility maturing in 2009. The 'BB+' bank loan rating is one notch above the corporate credit rating; this and the '1' recovery rating indicate a high expectation of full recovery of principal in the event of a default. The new credit facility will replace Arch Coal's existing $350 million revolving credit facility that matures in 2007. Standard & Poor's also affirmed its existing ratings on Arch Coal and subsidiary Arch Western Finance LLC The outlook is stable. 'The ratings on Arch Coal reflect the company's vast...
Companies mentioned in this report are: Arch Coal Inc.
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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