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Moody's: Walter outlook stable
Moody's Investors Service said it changed the outlook for Walter Energy, Inc. to stable from positive.
Concurrently Moody's affirmed the company's ratings, including its B1 corporate family rating, and assigned a speculative grade liquidity rating of SGL-2.
Moody's said the move to a stable outlook reflects the expectation that the softness in the metallurgical coal market could pressure Walter's profitability and production and increase the likelihood that over the next 12-18 months the company would not be able to meaningfully reduce debt incurred to finance the 2011 acquisition of Western Coal Corp., as previously anticipated.
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