Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers W > Headlines for Walter Energy Inc. > News item |
S&P: Walter Energy to negative
Standard & Poor's said it revised the outlook on Walter Energy Inc. to negative from stable.
S&P also affirmed its BB- corporate credit rating.
The outlook revision reflects a view that metallurgical (met) coal prices remain under pressure, partly because of slower steel production overseas, S&P said.
As a consequence, Walter Energy is likely to post weaker profits than previously anticipated with a slimmer cushion under certain financial covenants, the agency said.
Adequate liquidity, Walter Energy's high-quality met coal reserves and a view that production costs will improve as operating issues at its Alabama mines are resolved somewhat offset these factors.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.