Alpha Natural Resources (ANR) Confident it Can Pay Debt Without Tapping Equity
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Price: $0.24 --0%
Rating Summary:
2 Buy, 11 Hold, 8 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 8 | New: 5
Rating Summary:
2 Buy, 11 Hold, 8 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 8 | New: 5
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Yesterday analyst Lucas Pipes of Brean Capital met with management at Alpha Natural Resources (NYSE: ANR). During the meeting, management commented on liquidity, a hot topic given recent news that Walter Energy (NYSE: WLT) delayed plans to refinance its debt.
"On the company's financial condition, Alpha was confident in its current liquidity to meet near-term (2015) debt principal obligations without tapping equity, which it saw as a poor option at today's prices," said Pipes.
"In 2015, the company faces debt maturities of roughly $417 million altogether, which the company expects to be able to fill with either cash, tapping its revolver, or the convert market. Equity was named a possibility, though the company was quick to point out that at today's levels, this was not an option it was looking towards. Furthermore, the company also stated that it was not inclined to employ its current liquidity towards additional acquisitions."
Brean Capital has a Hold rating on Alpha Natural Resources.
For an analyst ratings summary and ratings history on Alpha Natural Resources (NYSE: ANR)click here. For more ratings news on Alpha Natural Resources click here.
Shares of Alpha Natural Resources closed at $5.67 yesterday.
"On the company's financial condition, Alpha was confident in its current liquidity to meet near-term (2015) debt principal obligations without tapping equity, which it saw as a poor option at today's prices," said Pipes.
"In 2015, the company faces debt maturities of roughly $417 million altogether, which the company expects to be able to fill with either cash, tapping its revolver, or the convert market. Equity was named a possibility, though the company was quick to point out that at today's levels, this was not an option it was looking towards. Furthermore, the company also stated that it was not inclined to employ its current liquidity towards additional acquisitions."
Brean Capital has a Hold rating on Alpha Natural Resources.
For an analyst ratings summary and ratings history on Alpha Natural Resources (NYSE: ANR)click here. For more ratings news on Alpha Natural Resources click here.
Shares of Alpha Natural Resources closed at $5.67 yesterday.
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