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Arch Coal Inc.'s Proposed Senior Unsecured Notes Rated 'BB'; Ratings Remain On Watch Negative Jul 09
Standard & Poors, July 2009
Abstract
-- Arch Coal announced that it has commenced an offering of $500 million in aggregate principal amount of senior unsecured notes due 2016. -- We are assigning a 'BB' issue-level rating (same as the corporate credit rating) and '4' recovery rating to the notes. At the same time, we placed the rating on CreditWatch with negative implications. -- All other ratings on Arch Coal, including the 'BB' corporate credit rating, remain on CreditWatch with negative implications. -- In resolving the CreditWatch, we will monitor the progress the parties make toward closing Arch Coal's proposed acquisition and assess any potential changes to the operating environment that could affect the ratings. NEW YORK (Standard & Poor's) July 28, 2009--Standard & Poor's Ratings...
Companies mentioned in this report are: Arch Coal Inc.
Action: CreditWatch Update
Action: New Rating
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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