Warrior Met Coal, Inc. has announced that Moody’s Investors Service (Moody’s) has upgraded its Corporate Family Rating (CFR) to B2 from B3 with a Stable Outlook. Warrior is the leading dedicated US-based producer and exporter of high quality metallurgical coal for the global steel industry.
According to Moody’s, the upgrade reflects the company’s strong financial performance including free cash flow generation, strong metallurgical coal prices, low financial leverage and changes in the company’s shareholder base. The upgrade further reflects expectations that the company will continue to demonstrate strong free cash flow through 2019.
“We are pleased with Moody’s recognition of the company’s strong financial performance, conservative capital structure with low financial leverage and changes in our shareholder base,” said Dale W. Boyles, Chief Financial Officer of Warrior.
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