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Arch Coal Inc. Oct 09
Standard & Poors, Oct 2009
Abstract
Good market position. Large and diversified reserve base. Significant percentage of reserves consisting of low-sulfur coal. Aggressive debt leverage. Cost pressures (particularly in the eastern U.S.). Softer market conditions because of weak demand and a competitive pricing environment. The ratings on St. Louis, Mo.-based coal producer Arch Coal reflect its high debt levels, ongoing cost pressures in its eastern U.S. operations, and somewhat aggressive financial policy as well as the relatively weak market conditions. Still, Arch Coal benefits from favorable long-term coal-industry conditions, a diversified base of coal reserves, and good liquidity. Arch Coal, one of the leading producers of coal in the U.S., with about 3.2 billion tons of coal reserves. Of these, 65% are in the Powder River...
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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