Fitch Downgrades Peabody Energy (BTU) to 'D' Following Bankruptcy Filing

NYSE Suspends Trading in Peabody Energy (BTU)

April 13, 2016 5:13 PM EDT

Peabody 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

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

Leading global coal miner Peabody files for bankruptcy

April 13, 2016 2:18 AM EDT

By Tracy Rucinski and Tom Hals

(Reuters) - Leading global coal producer Peabody Energy Corp (NYSE: BTU) filed for U.S. bankruptcy protection on Wednesday after a sharp drop in coal prices left it unable to service debt of $10.1 billion, much of it incurred for an expansion into Australia.

The Chapter 11 bankruptcy filing ranks among the largest in the commodities sector since energy and metal prices began to fall in mid-2014 as once fast-growing markets including China and Brazil started to slow.

Peabody, the world's biggest private-sector coal... More