Fitch Downgrades Peabody Energy (BTU) to 'D' Following Bankruptcy Filing
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Amid Prolonged Industry Downturn, Peabody Energy Takes Major Step To Strengthen Liquidity And Reduce Debt Through Chapter 11 Protection
April 13, 2016 2:25 AM EDTST. LOUIS, April 13, 2016 /PRNewswire/ --Â Taking a major step to strengthen liquidity and reduce debt amid an unprecedented industry downturn, Peabody Energy Corporation (NYSE: BTU) today 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.1Â Through this process, the company intends to reduce its overall debt level, lower fixed charges, improve operating cash flow and position the company for long-term success, while continuing to operate under the protection of the court... More
