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Arch Coal In A Serious Down Slide

2015-05-26 20:05:40| Industrial Machines - Topix.net

As power utilities are seen to be increasingly switching to cheaper natural gas and big-ticket clients such as China cut down on coal imports, the global coal industry is gripped by a downturn that has started to take its toll. One of the largest producers of coal in the world, United States-based Arch Coal Inc. , reportedly, hired restructuring advisers including Blackstone Group LP's credit advisers GSO Capital Partners, investment bank Moelis & Co , hedge fund Hutchin Hill Capital LP and lawyers from Davis Polk & Wardwell LP to help deal with its $5.15 billion debt, as of March 31, 2015.

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