On 23 January, Warrior Met Coal, Inc. announced that Standard & Poor’s (S&P) Rating Services has affirmed the company’s corporate credit rating of ‘B+’, with a stable outlook.
At the same time, S&P raised the issue level rating on the company’s senior secured notes due 2024 from ‘BB-’ to ‘BB’ and the recovery rating to ‘1’ from ‘2’.
S&P cited the company’s strong performance, strong credit metrics and stable outlook as reasons for its new ratings. The upgrade reflects S&P’s view about Warrior’s ability to maintain strong EBITDA margins, low debt leverage and strong free cash flow in 2019.
Read the article online at: https://www.worldcoal.com/coal/24012019/warrior-met-coal-b-credit-rating-affirmed-by-sp-global-ratings/