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Moody’s downgrades Contura Energy, says outlook remains negative

first_img FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):Moody’s downgraded Contura Energy Inc.’s corporate family rating to B3 from B2 and revised its outlook on the company to negative from stable, saying it expects Contura will experience significant margin compression in 2020 as a result of decreased metallurgical coal prices and higher cash burn.The rating agency also lowered the NYSE-listed coal miner’s senior secured term loan rating to Caa1 from B3, and its speculative grade liquidity rating to SGL-3 from SGL-2, in a Feb. 27 note.Moody’s estimated Contura Energy’s “management-defined” EBITDA would fall to a range of about $125 million to $175 million in 2020, compared to $335 million in 2018 and $264 million for the first nine months of 2019.Contura Energy’s thermal coal platform will likely generate modest losses in 2020 as the company also faces potential headwinds due to variations in metallurgical coal prices, while the negative outlook also reflects expectations for cash consumption in 2020, Moody’s said.“An increasing portion of the global investment community is reducing or eliminating exposure to the coal industry with greater emphasis on moving away from thermal coal,” Moody’s said.Moody’s said it expects 2020 to be very challenging for the coal industry due to lower domestic demand for thermal coal and substantive reductions in export prices, amid increasing difficulty in accessing capital early in the year as investors increase focus on the industry’s environmental, social and governance profile.[Robert Vergara]More ($): Moody’s revises outlook on Contura Energy to negative from stable Moody’s downgrades Contura Energy, says outlook remains negativelast_img read more

At-home COVID-19 deaths may be significantly undercounted in New York City

first_imgTopics : The fire department data are based on information collected during emergency calls involving cardiac or respiratory arrest, with fever and cough. Those are symptoms characteristic of a severe case of COVID-19, the disease caused by the coronavirus.Although those symptoms also could fit diseases such as influenza, the steep rise coincides with the surge in COVID-19 cases in New York City, the epicenter of the U.S. coronavirus epidemic.The data raise questions about the city’s official tally indicating coronavirus deaths had leveled off in recent days (before rising again Tuesday).The official daily death count had stayed relatively flat, going from 309 on from March 31 to 290 on April 5, according the health department’s website. During that same period, according to the fire department data, the number of daily deaths at home among people with COVID-19-like symptoms rose from 167 to 241. The daily tally of New York City residents who died at home with coronavirus-like symptoms exploded from 45 on March 20 to 241 on April 5, according to Fire Department of New York data – suggesting the city may be significantly undercounting COVID-19 deaths.Asked about the fire department numbers at a press conference Tuesday, New York City Mayor Bill de Blasio acknowledged that deaths at home haven’t been fully accounted for.“It’s right to assume the vast majority are coronavirus related,” he said. “And that makes it even more sober in the sense of how many people we are losing, how many families are suffering, how real this crisis is.”center_img A spokesman for the city Department of Health and Mental Hygiene, which certifies findings on causes of death, said the official death count only includes those who had a test confirming they were infected with the virus.The spokesman did not know what portion of people who died at home had been tested but said the department and the city Office of Chief Medical Examiner are working on counting the cases in which the deceased did not have a test.The fire department would not comment on the significance of its figures, which first were reported on the website gothamist.com.According to the data, a total of 2,192 at-home deaths were reported from March 20 to April 5. The city death count as of that day, including hundreds of deaths among the nearly 16,000 hospitalized for the disease, was about 2,500. It now exceeds 3,200.Calls during the coronavirus outbreak in New York are swamping 911 emergency responders, the data show.Between March 20 and April 5, the number of Covid-19-like cases, including patients who survived, tripled, from 94 to 322, according to fire department data.The percentage of calls in which paramedics could not save the person rose from 48% percent to 75%.“It’s never-ending,” said a fire department paramedic lieutenant who asked not to be identified. “And it’s getting worse each day.”Before the coronavirus outbreak, the lieutenant said, the five boroughs averaged 10 to 20 calls a day that resulted in death.last_img read more

FIFA, CAF, NFF salute Mikel at 33

first_imgRelatedPosts Photos as Asiwaju Tinubu marks 60th birthday with wife Sanwo-Olu celebrates Sen. Tinubu at 60 Pomp, pageantry as Akran of Badagry turns 84 The World football governing body, FIFA, have joined the Confederation of African Football and the Nigeria Football Federation to celebrate former Super Eagles’ captain, John Obi Mikel, on his 33rd birthday.The midfielder, who turned 33 on Wednesday, received congratulatory messages from far and wide. Some of the messages read: “A big birthday shout out to former @NGSuperEagles captain and #AFCON2013 winner, @mikel_john_obi.“Thank you for the memories and do have a good one.”Another also wrote: “Happy Birthday to Nigeria’s retired midfielder John Obi Mikel! 2013 #TotalAFCON winner and three third-place medals winner.”Check revealed that the erstwhile Chelsea FC of England star played 88 times for Nigeria, scoring six goals in 14-year international career between 2005 and 2019.Mikel also assured Nigeria to a bronze medal win in Rio 2016 Olympic Games. He was with Chelsea for 11 years, before moving to China with Tianjin TEDA in 2017.He had also been with with Middlesbrough and Trabzonspor on a free transfer.Mikel is currently on Brazilian clubs radar and may seal a deal with Botafogo or Porto Alegre.Tags: BirthdaycafFIFAJohn Obi MikelNFFlast_img read more

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