The international credit rating agency Standard and Poor's (S&P) has announced that it has lowered the corporate credit rating of the
US-based coal producer Alpha Natural Resources to 'BB-' from 'BB', stating that the outlook is stable.
The agency stated that the coal producer is cutting down its production guidance for 2012 due to a sharp cyclical drop in domestic demand, adding that the 6-10 percent cut in production is expected to lower the 2012 EBITDA as well.
S&P foresees that Alpha's production in 2012 will decline to below 110 million mt from its original expectation of about 118 million mt.