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Prospect News home > News index > List of issuers G > Headlines for Geo Coal International Pte. Ltd. > News item |
S&P rates Geo Coal notes B
S&P said it affirmed the B long-term corporate credit rating on Geo Energy Resources Ltd.
The outlook is stable.
S&P also said it assigned a B long-term issue rating to the proposed senior unsecured notes to be issued by Geo Coal International Pte. Ltd. and unconditionally guaranteed by Geo Energy and substantially all of the company's subsidiaries.
The ratings reflect Geo Energy's credit profile has not changed significantly since the agency assigned the rating in July, the agency said.
Coal prices have remained supportive, but S&P said it continues to view the company as having relatively modest production and scale.
The company also continues to have high mine and mineral exposure and a short track record as a mid-sized coal producer, the agency said.
The company faces residual execution risk in bringing a new mine to production, S&P said, and its operating performance and credit ratios will remain sensitive to fluctuations in coal prices.
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