New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 25, 2014
16:09 EDTANRAlpha Natural downgraded to Neutral from Buy at UBS
News For ANR From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
July 1, 2015
16:35 EDTANRAlpha Natural announces consolidation of Marcellus Shale JV ownership
Subscribe for More Information
June 30, 2015
13:31 EDTANRAlpha Natural creditors prepping for restructuring talks, WSJ reporter says
Subscribe for More Information
June 29, 2015
10:41 EDTANRSupreme court rules EPA unlawful with power plant pollution rules, Reuters says
Publicly traded companies in the coal space include Alliance Resource Partners (ARLP), Alpha Natural (ANR), Arch Coal (ACI), CONSOL (CNX), Cloud Peak (CLD), Peabody (BTU) and Walter Energy (WLT).
June 26, 2015
11:08 EDTANRPeabody plunges after Moody's lowers credit rating
Shares of coal miner Peabody (BTU) are lower in late morning trading after Moody's Investors Service downgraded the company's credit rating last night. WHAT'S NEW: Moody's Investors Service downgraded the ratings of Peabody, including the corporate family rating, to B3 from B2, probability of default rating to B3-PD from B2-PD. The firm noted that the outlook is negative. Moody's said that the downgrade "reflects our expectation of continued deterioration in the company's credit metrics, more precipitous than we had forecasted previously, due to the ongoing decline in the seaborne metallurgical coal markets." The firm expects that the company's Debt/EBITDA, as adjusted, will approach 9x in 2015. Moody's said that although it anticipates some recovery in 2016, it sees the leverage remaining elevated at around 7x. Absent asset sales, the company will generate negative free cash flows in 2015 and 2016, Moody's said in the report. WHAT'S NOTABLE: Moody's said that a further downgrade would be considered if liquidity deteriorated, free cash flows were repeatedly negative and/or Debt/EBITDA exceeded 8x on a sustained basis. PRICE ACTION: Shares of Peabody are down over 9.5% to $2.08 in late morning trading, rebounding from an earlier low of $1.92. OTHERS TO WATCH: Other companies in the coal mining space include Alpha Natural Resources (ANR), Arch Coal (ACI) and CONSOL Energy (CNX).

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use