- 24/7 Wall St.•22 days ago
Wednesday morning, St. Louis-based coal producer Arch Coal announced that it has completed its restructuring and has now emerged from bankruptcy protection.
- Barrons.com•22 days ago
Arch Coal (ARCH) is emerging from bankruptcy with a new ticker--ARCH--and a new lease on life thanks to higher coal prices and less debt. FBR's Lucas Pipes and Derek Hernandez explain: We are initiating coverage on Arch Coal with an Outperform rating and a price target of $71 per share. Arch Coal's new equity is emerging from a balance sheet restructuring that has left its low-cost operating assets unchanged: high-quality met coal production in the East and PRB thermal coal exposure in the West.
- Reuters•last month
U.S. coal miner Arch Coal won court approval on Tuesday for a plan to eliminate $4.7 billion of debt from its balance sheet, the company said, clearing the path to emerge from bankruptcy in early October. The second largest U.S. coal producer filed for Chapter 11 protection in January after a failed attempt to restructure with bondholders out of court, joining a handful of other coal companies who have been forced into bankruptcy during a harsh industry downturn. Under a reorganization plan confirmed by U.S. Bankruptcy Court in St. Louis on Tuesday, the company's senior lenders will have control of most of the company.
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