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Arch Coal Inc. Ratings on CreditWatch Positive on Reduced Debt, Improving Industry Conditions May 01
Standard & Poors, May 2001
Abstract
NEW YORK (Standard & Poor's CreditWire) May 4, 2001--Standard & Poor's today placed its ratings on Arch Coal Inc. on CreditWatch with positive implications (see list below). The rating action reflects the efforts of the company to reduce its debt levels as well as the significant rebound in coal prices and favorable industry fundamentals. Arch Coal, with operations located in the key coal producing regions of Central Appalachia, Colorado, Utah, and Wyoming, will have made significant strides in reducing its debt levels following common stock offerings that raised approximately $400 million in proceeds and applied toward debt reduction. Moreover, given current high coal prices, impending negotiations of Arch's expiring utility contracts for the 33% and 59% of uncommitted tonnage for...
Companies mentioned in this report are: Arch Coal Inc.
Action: On CreditWatch:Positive
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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