S&P: Berau Coal to negative

Standard & Poor's said it revised the outlook on PT Berau Coal Energy Tbk. to negative from positive.

The agency also affirmed the BB- long-term corporate credit rating on the company and the BB- issue ratings on all the company's outstanding senior notes.

Berau Coal Energy's financial performance will be weaker over the next 12 months than previously anticipated, S&P said.

The company's significant financial risk profile could weaken to aggressive, reversing a recent improvement, the agency said.

These factors will likely weaken the company's debt-to-EBITDA ratio to about 4x in 2013, compared with an expectation of less than 2x when the positive outlook was assigned in February 2012, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.