first_img FacebookTwitterLinkedInEmailPrint分享Taylor Kuykendall for SNL:As the coal sector crumbles, analysts aim to draw up exactly what the industry might look like once it is pieced back together.Chiza Vitta, an analyst with Standard & Poor’s Ratings Services, said that even though his group covers base metals, precious metals and other mining companies, coal is taking up the bulk of the group’s time these days. The reason such a “significant amount” of time is being dedicated is the industry has gotten into such “severe distress” analysts must continually reassess the sector’s financial health as more and more coal giants fall into bankruptcy or teeter on the edge of it.“There’s a lot of negative sentiment out there,” Vitta said at the recent 24th Annual Platts Coal Properties & Investment conference.In addition to struggling to convince the broader investing public to get on board with coal, the industry is also seeing hesitancy in conventional lenders and other financiers, Vitta said. This is has caused debt to trade at distressed levels and prompted a trend toward more “private money” on the table from certain strategic investors.The result is merger and acquisition activity in early 2016 that is “well behind” the year before, even though coal assets have become available at rock bottom prices.Full article ($): Bankruptcy, tightened market cloud coal’s future as headwinds continue in 2016 SNL: 2016 ‘Headwinds’ Facing U.S. Coallast_img

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