Fitch Ratings said Friday that it has downgraded Arch Coal, Inc.'s (ACI) Issuer Default Rating and senior unsecured notes to 'B-' from 'B'.
The Rating Outlook is Negative.
Fitch said Arch Coal benefits from large, well-diversified operations and good control of low-cost production. Globally, Arch is the sixth largest coal producer based on volumes.
The credit ratings also reflect oversupply in the domestic steam coal market which is expected to result in substantially lower earnings through at least 2013, the rating agency said.
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