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Arch Coal 'BB-' Corporate Credit Rating Affirmed, Removed From Watch Developing, On Its Purchase Of International Coal Jun 11
Standard & Poors, June 2011
Abstract
NEW YORK (Standard & Poor's) June 16, 2011--Standard & Poor's Ratings Services said today that it affirmed its 'BB-' corporate credit rating on Arch Coal Inc. The rating outlook is stable. At the same time, Standard & Poor's took various issue-level and recovery rating actions on Arch's new and existing debt. It removed all ratings from CreditWatch, where they were placed with developing implications on May 2, 2011. The rating actions follow Arch's announcement that it has completed the International Coal acquisition as expected and previously outlined. In conjunction with the acquisition, Arch closed on $2 billion of senior unsecured debt to partially finance the merger, refinanced its existing revolving credit facility, and repaid a portion of International Coal's outstanding...
Companies mentioned in this report are: Arch Coal Inc.,Arch Western Resources LLC,Arch Western Finance LLC
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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