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S&P assigns Cloud Peak BB-, loan BB+, notes BB-
Standard & Poor's said it assigned its BB- corporate credit rating to Cloud Peak Energy Resources LLC.
The outlook is stable.
The agency also said that it assigned an issue-level rating of BB+ to the company's proposed senior secured revolving credit agreement. The recovery rating is 1.
In addition, S&P said it assigned a BB- issue-level rating to Cloud Peak's proposed $600 million of senior unsecured notes, adding that the company expects to issue the proposed notes in two tranches, with seven- and 10-year maturities. The recovery rating on the notes is 3.
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