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Arch Coal Inc. Downgraded To 'BB-' From 'BB'; Outlook Stable Oct 09
Standard & Poors, Oct 2009
Abstract
On Oct. 1, 2009, St. Louis-based Arch Coal completed the previously announced acquisition of Rio Tinto's Jacobs Ranch mine. We lowered our corporate credit rating on Arch Coal Inc. and its subsidiary Arch Western Resources LLC to 'BB-' from 'BB'. We removed all ratings from CreditWatch, where they were placed with negative implications, on March 9, 2009. The stable outlook reflects our expectation that despite lower demand for coal, due to recession-induced volume declines, Arch Coal's credit measures should remain at a level consistent with its 'BB-' rating. NEW YORK (Standard & Poor's) Oct. 1, 2009--Standard & Poor's Ratings Services said today that it lowered its ratings on St. Louis-based Arch Coal Inc. and its subsidiary Arch Western Resources LLC,...
Companies mentioned in this report are: Arch Coal Inc.
Action: Downgraded
Action: Outlook: Stable
Action: Removed From CreditWatch
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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