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BULLETIN: Arch Coal Inc. Plans To Help Form New Mining Company, Take It Public Aug 05
Standard & Poors, Aug 2005
Abstract
NEW YORK (Standard & Poor's) Aug. 10, 2005--Standard & Poor's Ratings Services said today that its ratings on Arch Coal Inc. (BB-/Stable/--) remain unchanged following Arch's announcement of its intent to contribute certain eastern mining operations, along with mining operations from ArcLight Capital Partners LLC, to form a new company. Arch and ArcLight plan to take the new company public through an initial public offering. Arch plans to use any proceeds from the sale of stock to finance growth opportunities. The proposed transaction will have a modest impact on Arch's overall credit profile. The company's business profile is negligibly affected by the sale of more than one-half its Central Appalachian assets, because these assets only account for approximately 10% of...
Companies mentioned in this report are: Arch Coal Inc.
Action: Bulletin
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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