Leading global coal miner Peabody files for bankruptcy
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NYSE Suspends Trading in Peabody Energy (BTU)
April 13, 2016 5:13 PM EDTPeabody Energy (NYSE: BTU) disclosed in an SEC filing:
On April 13, 2016, the New York Stock Exchange (the NYSE) suspended trading in the common stock of Peabody Energy Corporation (the Company) and notified the Company that the common stock is no longer suitable for listing pursuant to Section 8.02.01D of the NYSE continued listing standards. The NYSE reached this decision... More
Fitch Downgrades Peabody Energy (BTU) to 'D' Following Bankruptcy Filing
April 13, 2016 5:02 PM EDTFitch Ratings has downgraded Peabody Energy Corporation's (NYSE: BTU) (Peabody; NYSE: BTU) long-term Issuer Default Rating (IDR) to 'D' from 'C'. The company and its U.S. subsidiaries have filed for bankruptcy protection under chapter 11 of the bankruptcy code. Approximately $8.4 billion in face amount of obligations is affected by today's rating actions. A complete list of rating actions follows at the end of this release.
The downgrade of the senior secured first-lien term loan and revolving credit facility (RCF) reflects the super priority status of the anticipated debtor-in-possession... More
Traders Eye Peabody Energy (BTU) Peers Following Bankruptcy Filing (WLB) (CNX)
April 13, 2016 7:21 AM EDTPeabody Energy (NYSE: BTU) peers are on watch Wednesday as the coal-mining giant announced plans to file for chapter 11 bankruptcy. With... More
Peabody Energy (BTU) Files for Chapter 11 Bankruptcy
April 13, 2016 5:29 AM EDT(Updated - April 13, 2016 6:17 AM EDT)
UPDATE - Peabody's company presentation of Select Assets is embedded at the bottom of this report.
Taking a major step to strengthen liquidity and reduce debt amid an unprecedented industry downturn, Peabody Energy Corporation (NYSE: BTU) voluntarily filed petitions under Chapter 11 for the majority of its U.S. entities in the United States Bankruptcy Court for the Eastern District of Missouri.1 Through this process, the company intends to reduce its overall debt level, lower fixed charges, improve operating cash flow and position the company for... More
