Conuma Coal Resources Limited Issuer Credit Rating Lowered To 'CCC+' From 'B' On Liquidity Concerns; Outlook Negative - S&P Global Ratings’ Credit Research

Conuma Coal Resources Limited Issuer Credit Rating Lowered To 'CCC+' From 'B' On Liquidity Concerns; Outlook Negative

Conuma Coal Resources Limited Issuer Credit Rating Lowered To 'CCC+' From 'B' On Liquidity Concerns; Outlook Negative - S&P Global Ratings’ Credit Research
Conuma Coal Resources Limited Issuer Credit Rating Lowered To 'CCC+' From 'B' On Liquidity Concerns; Outlook Negative
Published Mar 26, 2020
3 pages (1668 words) — Published Mar 26, 2020
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

We believe Conuma Coal Resources Ltd. faces heightened risk of a liquidity shortfall given its negligible cash position and credit availability. The emergence of COVID-19 and S&P Global Ratings' expectation for a global recession are key risks to Conuma's near-term cash flow and liquidity position. We now believe Conuma is vulnerable to near-term cash outflows, which could result from relatively modest declines in its production and metallurgical coal prices. As a result, S&P Global Ratings lowered its issuer credit rating (ICR) on Conuma to 'CCC+' from 'B'. At the same time, we lowered our issue-level rating on the company's senior secured notes to 'B-' from 'B+'. The '2' recovery rating on the notes is unchanged. The negative outlook reflects our

  
Report Type:

Ratings Action

Ticker
1524345D@CN
Issuer
Conuma Resources Ltd.
Sector
Global Issuers
Country
Canada
Region
Canada
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Conuma Coal Resources Limited Issuer Credit Rating Lowered To 'CCC+' From 'B' On Liquidity Concerns; Outlook Negative" Mar 26, 2020. Alacra Store. May 04, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Conuma-Coal-Resources-Limited-Issuer-Credit-Rating-Lowered-To-CCC-From-B-On-Liquidity-Concerns-Outlook-Negative-2402511>
  
APA:
S&P Global Ratings’ Credit Research. (). Conuma Coal Resources Limited Issuer Credit Rating Lowered To 'CCC+' From 'B' On Liquidity Concerns; Outlook Negative Mar 26, 2020. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Conuma-Coal-Resources-Limited-Issuer-Credit-Rating-Lowered-To-CCC-From-B-On-Liquidity-Concerns-Outlook-Negative-2402511>
  
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