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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

Wigan’s prospect: Huddersfield Town’s win pushes Balogun out of relegation

first_imgLeon Balogun’s Wigan have moved clear of the English Championship relegation zone following Saturday’s 2-0 triumph at Huddersfield Town. Brighton have assured Balogun of his place A goal in each half by Jamal Lowe and Anthony Pilkington were all the Latics needed to secure maximum points at stake in West Yorkshire. Balogun – who is on loan from Premier League outfit Brighton and Hove Albion was not listed for the clash but that did no harm to Paul Cook’s side. Wigan started the game on a bright note and they carved out the encounter’s first opportunity when Nathan Byrne’s cross for Kieffer Moore fell to on-loan Everton midfielder Kieran Dowell who could not pull the trigger. The visitors’ persistence at goal paid off in the 26th minute with Moore’s cross slotted past the goal line by Lowe – his fourth of the season. Huddersfield seldom threatened however, their first chance in the 33rd minute through Juninho Bacuna’s free-kick drew an impressive save from goalkeeper David Marshall. Three minutes into the second half, Pilkington doubled the lead after profiting from Lowe’s assist. And for the remaining part of the game, no goal was recorded as Cook’s men who have now won their last three games. Loading… DR Congo forward Elias Kachunga replaced Lewis O’Brien on the hour mark for Huddersfield Town. The game was the 28-year-old’s 31st of the season with two goals to his credit. Benin Republic international Steve Mounie and Uganda’s Herbert Bockhorn were not listed for the encounter at the Kirklees Stadium. Captain Sam Morsy was on parade from start to finish for the Latics, with Cote d’Ivoire’s Cedric Kipre not available for the match as well as Nigeria’s Balogun. The Super Eagles defender struggled for game time since teaming up with the Seagulls in 2018 from German Bundesliga club Mainz 05, featuring in only 12 games across all competitions. In his quest to enjoy more action and reignite his career, he completed a loan switch to the Championship side on Transfer Deadline Day. read also:Balogun remains my preferred Super Eagles Defensive Partner–Ekong He went on social media to commend his team for their well-deserved win: “Well done lads, started right where we left off,” he tweeted. Wigan are now 17th in the Championship log having accrued 44 points from 38 games – they host Blackburn Rovers in their next outing on Saturday, while 20th placed Huddersfield Town square up against promotion-chasing Nottingham Forest on Sunday. FacebookTwitterWhatsAppEmail分享 center_img Promoted ContentThe Best Cars Of All Time8 Scenes That Prove TV Has Gone Too FarLook Up At The Most Fascinated Ceilings In The World8 Superfoods For Growing Hair Back And Stimulating Its Growth13 kids at weddings who just don’t give a hoot10 Legendary Historical Movies You Should SeeThe Highest Paid Football Players In The WorldInsane 3D Spraying Skills Turn In Incredible Street ArtTop 7 Best Car Manufacturers Of All TimePretty Awesome Shows That Just Got Canceled6 Best 90’s Action Movies From Your Childhood6 Incredibly Strange Facts About Hurricaneslast_img read more

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