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June 30, 2014
07:50 EDTWLTS&P lowers Walter Energy rating to 'CCC+' with negative outlook
Standard & Poor's Ratings Services said late Friday that it lowered its corporate credit rating on Walter Energy to "CCC+" from "B-". "We lowered the ratings on the company's senior secured credit facilities and 9.5% senior secured first-lien notes to 'B-' from 'B'. The recovery rating on the debt remains '2', indicating our expectation of substantial recovery in the event of a payment default...The negative outlook reflects our expectation that weak met coal market conditions will persist, which will pressure the company's liquidity position. We also expect very weak credit measures in 2014, with debt leverage above 20x and EBITDA interest coverage of less than 1x in 2014," said Standard & Poor's.
News For WLT From The Last 14 Days
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October 9, 2014
11:36 EDTWLTCoal price near-term rebound less likely after China tax, says Brean Capital
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11:00 EDTWLTChina to reinstate tariffs on coal, Bloomberg reports
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05:45 EDTWLTStocks with implied volatility movement; WLT SHLD
Stocks with implied volatility movement; Walter Energy (WLT) 159, Sears (SHLD) 108 according to iVolatility.
October 8, 2014
10:00 EDTWLTOn The Fly: Analyst Downgrade Summary
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08:08 EDTWLTWalter Energy downgraded at Morgan Stanley
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October 7, 2014
17:24 EDTWLTWalter Energy downgraded to Equal Weight from Overweight at Morgan Stanley

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