WASHINGTON (dpa-AFX) - Fitch Ratings said it has affirmed Peabody Energy Corp.'s (BTU) Issuer Default Rating or IDR at 'BB+'. The Rating Outlook has been revised to Negative from Stable.
Fitch also has affirmed Peabody's Senior unsecured notes at 'BB+'; -Senior unsecured revolving credit and terms loan at 'BB+'; Convertible junior subordinated debentures due 2066 at 'BB-'.
Fitch stated that the Negative Outlook reflects the risk that Total Debt/EBITDA remains elevated for a prolonged period should the metallurgical coal market remain weak.
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