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Arch Coal Inc. Sep 10
Standard & Poors, Sep 2010
Abstract
Good market position. Large and diversified reserve base. Significant percentage of reserves consisting of low-sulfur coal. Aggressive financial policy. Cost pressures (particularly in the eastern U.S.). Softer market conditions because of weak demand in the domestic steam coal market. The 'BB-' rating on Arch Coal Inc. reflects Standard & Poor's Ratings Services' assessment of the combination of its fair business risk profile and aggressive financial risk profile. The ratings also reflect its high debt levels, ongoing cost pressures in its eastern U.S. operations, and a somewhat aggressive financial policy as well as the relatively weak domestic steam coal market. Still, Arch Coal benefits from favorable long-term coal-industry conditions, a diversified base of coal reserves, and, in our view, adequate liquidity....
Companies mentioned in this report are: Arch Coal Inc.,Arch Western Resources LLC
Action: Review
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: Full Analysis
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