S&P downgrades Arch Resources

S&P said it downgraded Arch Resources Inc. to B+ from BB- and its senior secured debt to BB- from BB, citing an expected decline in EBITDA of 50%-55% caused by weak prices and reduced demand.

The agency said it also forecasts average metallurgical coal prices falling more than 16%-18% below 2019 levels.

S&P assigned a BB- rating to Arch’s proposed $53.09 million tax-exempt bond due 2045.

The outlook is negative.

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