Moody’s revises Alliance view to negative

Moody’s Investors Service said it affirmed Alliance Resource Operating Partners, LP’s Ba3 corporate family rating and revised the outlook to negative from stable on substantially weaker coal industry fundamentals.

Moody’s also downgraded the company’s speculative grade liquidity rating to SGL-3 from SGL-2.

“We expect slumping demand for electricity will lower demand for thermal coal and weaken earnings in 2020, resulting in credit metrics that test the boundaries of the rating,” said Ben Nelson, a Moody’s vice president, senior credit officer and lead analyst for Alliance, in a press release.

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