Subsequent to today's actions, Moody's will withdraw all of Foresight Energy, LLC's ratings due to the bankruptcy filing. Please refer to the Moody's Investors Service Policy for Withdrawal of Credit Ratings, available on its website, www.moodys.com.
Top Ranked Income Stocks to Buy for September 18th
Moody's Investors Service downgraded Foresight Energy, LLC's ("Foresight") Corporate Family Rating ("CFR") to Caa2 from B3, first lien senior secured credit facilities to Caa1 from B2, and $425 million 11.5% Second Lien Senior Secured Notes due 2023 to Caa3 from Caa2. Moody's also downgraded the company's Speculative Grade Liquidity Rating ("SGL") to SGL-4 from SGL-2. The long-term ratings are placed on review for further downgrade.
Top Ranked Income Stocks to Buy for September 4th
Moody's Investors Service ("Moody's") assigned a B2 rating to the $350 million debtor-in-possession ("DIP") Term Loan of Murray Energy Corporation ("Murray"). The rating primarily reflects the collateral coverage available to lenders and the structural features of the DIP Term Loan.
Q2 2019 Foresight Energy LP Earnings Call
Top Ranked Income Stocks to Buy for August 29th
Moody's Investors Service ("Moody's") downgraded Murray Energy Corporation's ("Murray") Probability of Default Rating ("PDR") to D-PD from Ca-PD and Corporate Family Rating ("CFR") to C from Ca. Please refer to the Moody's Investors Service Policy for Withdrawal of Credit Ratings, available on its website, www.moodys.com.
Moody's Investors Service downgraded all ratings for Murray Energy Corporation, including the company's Corporate Family Rating ("CFR") to Ca from Caa1. The ratings are placed on review for further downgrade. "Murray Energy's capital structure is not sustainable amid a sharp reduction in pricing for export thermal coal in 2019 and intensifying competition for declining domestic demand.
Top Ranked Income Stocks to Buy for September 20th
FELP earnings call for the period ending June 30, 2019.
Top Ranked Income Stocks to Buy for August 21st
Murray Energy Corp., which holds controlling interest in St. Louis-based Foresight Energy LP, filed for Chapter 11 bankruptcy Tuesday, the most recent example of the pressure coal producers face from declining demand and less-expensive fuels, such as natural gas.
Top Ranked Income Stocks to Buy for August 19th
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Foresight Energy, LLC and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
Moody's Investors Service ("Moody's") affirmed all ratings for Natural Resource Partners L.P., including the B2 Corporate Family Rating ("CFR"), and revised the rating outlook to negative from stable. "NRP has repaid more than half of its debt since 2015, but substantive deterioration in coal industry fundamentals will reduce cash flow generation and slow the pace of debt reduction in 2020," said Ben Nelson, Moody's Vice President -- Senior Credit Officer and lead analyst for Natural Resource Partners L.P.