S&P may lift International Coal

Standard & Poor's said it placed International Coal Group LLC's B- corporate credit rating on CreditWatch with positive implications.

"The CreditWatch placement reflects the recent refinancing of the company's revolving credit facility with a new asset-based revolving credit facility and our expectation that the company will maintain credit measures at a level we would consider good for the rating," S&P analyst Sherwin Brandford said in a statement.

"Despite ICG's performance in 2010 likely being weaker than 2009 as a result of lower coal volumes, we expect debt to EBITDA to remain below 3.5x and slightly positive free cash flow."

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