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Arch Coal Inc.'s $1 Billion Shelf Assigned Preliminary 'B+' Ratings; Other Ratings Affirmed Dec 04
Standard & Poors, Dec 2004
Abstract
NEW YORK (Standard & Poor's) Dec. 3, 2004--Standard & Poor's Rating Services said today it assigned its preliminary 'B+' senior unsecured and 'B+' subordinated debt ratings to Arch Coal Inc.'s $1 billion universal shelf. Standard & Poor's also affirmed its existing ratings on Arch Coal Inc. and subsidiary Arch Western Finance LLC. The outlook is stable. 'The ratings on Arch Coal reflect the company's vast and diversified base of coal reserves and strong industry conditions, offset by difficult operating conditions, particularly in the east, and a very aggressive financial profile,' said Standard & Poor's credit analyst Dominick D'Ascoli. Arch is one of the top U.S. coal producers, with 2003 production of around 126 million tons, pro forma for the recent...
Companies mentioned in this report are: Arch Coal Inc.,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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