Moody's rates Alliance Resource notes B1

Moody's Investors Service said it assigned a Ba3 corporate family rating on Alliance Resource Operating Partners, LP, along with a B1 rating on its proposed senior unsecured notes and a speculative grade liquidity rating of SGL-2.

The outlook is stable.

The ratings reflect the company's position as one of the key U.S. thermal coal producers operating eight underground mining complexes in Illinois Basin and Appalachia, Moody's said, as well as a coal loading terminal on the Ohio River in Indiana.

The company enjoys a competitive cost structure and an advantageous contracted position over the next two years, Moody's said.

The company is expected to maintain an adjusted debt-to-EBITDA of less than 2x over the ratings horizon, the agency said.

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