S&P: Consol on positive watch

Standard & Poor's said it placed its BB- senior unsecured debt, BB senior secured debt and BB- corporate credit ratings on Consol Energy Inc. on CreditWatch with positive implications following the company's announcement that it intends to sell up to an 18.5% interest in CNX Gas Corp.

Although the amount and use of proceeds is uncertain, the CreditWatch placement also reflects the company's successful efforts to increase coal production, the resumption of operations at its Buchanan mine and the expectation of continued strong coal markets, S&P said.

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