|Bid||2.1000 x 1000|
|Ask||2.1100 x 800|
|Day's Range||2.0300 - 2.1497|
|52 Week Range||2.0300 - 2.1497|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Moody's Investors Service ("Moody's") downgraded Westmoreland Coal Company's ("Westmoreland") Probability of Default Rating (PDR) to D-PD from Caa3-PD. Moody's also downgraded the company's Corporate Family Rating (CFR) to C from Caa3 and all instrument ratings to C from Ca.
Creditors of the nation's oldest independent coal producer will consider selling the Douglas County-based company's mines under a Chapter 11 reorganization filed Tuesday. Westmoreland Coal Co. reached a restructuring agreement as its U.S. business filed for bankruptcy protection to reorganize in the face of nearly $1.1 billion in debt, $416.8 million of it due before next summer. “After months of thoughtful and productive conversations with our creditors, we have developed a plan that allows Westmoreland to operate as usual while positioning Westmoreland for long-term success,” said Michael Hutchinson, the company's interim CEO, in a written statement.
The company has reached a restructuring agreement in which a group of lenders will bid for substantially all of Westmoreland’s business assets.
Coal producer Westmoreland Resource Partners LP said Tuesday it filed for chapter 11 bankruptcy protection in Texas. The stock is currently halted for news. Westmoreland Coal Co. has also filed for bankruptcy. Westmoreland said the restructuring support agreement (RSA) with an "ad hoc group of its secured lenders" provides that $90 million outstanding under an existing $110 million bridge loan will be refinanced with a new $110 million debtor-in-possession facility, which with cash flow from operations are expected to provide enough liquidity to support the company's operations during the restructuring process. Under the RSA, the group of lenders has agreed to bid to acquire substantially all of Westmoreland's business assets. The stock, which closed Monday at $2.07, has shed 26% year to date, while the SPDR Energy Select Sector ETF has gained 7.1% and the S&P 500 has advanced 7.9%.
Westmoreland Coal Company (“Westmoreland” or “the Company”) (WLBA) announced today it has entered into a restructuring support agreement (“RSA”) with members of an ad hoc group of lenders (the “Ad Hoc Group”) that hold approximately 76.1% of the Company’s term loan, approximately 57.9% of its senior secured notes, and approximately 79.1% of its bridge loan. In addition, Westmoreland affiliate Westmoreland Resource Partners, LP (WMLP) (“WMLP”) simultaneously filed for relief under chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division.
In this article, I’m going to take a look at Westmoreland Resource Partners LP’s (NYSE:WMLP) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subjectRead More...
A new lithium exploration project in the Western United States could prove out one of the largest lithium aquifers globally according to recent expert comments. Exploratory drilling results from an up-and-coming company called Oroplata Resrouces (ORRP) in the coming months could prove whether this region is as big as some experts believe. With a $13 million market capitalization, ORRP could see a major move as these results approach, and 2018 could prove a breakout year for the small company.
NEW YORK, NY / ACCESSWIRE / May 24, 2018 / Traders News Source, a leading independent equity research and corporate access firm focused on small and mid-cap public companies is issuing a comprehensive report with no obligation on Westmoreland Resource Partners, LP (WMLP), a company that produces and markets thermal coal in the United States. Westmoreland Resource Partners, LP is a subsidiary of Westmoreland Coal Company. Shares of the parent company, Westmoreland Coal were also up over 100% on Wednesday.
Today I will take a look at Westmoreland Resource Partners LP’s (NYSE:WMLP) most recent earnings update (30 September 2017) and compare these latest figures against its performance over the pastRead More...