Standard And Poor's Downgrades Peabody Energy

Mar 21, 2016

Credit Department of Energy EIA

The ratings agency Standard and Poor's has dropped its credit rating for coal giant Peabody Energy to the lowest possible level, after the company failed to make a major interest payment last week.

Peabody has said it is in talks with its creditors and hopes to restructure its debt, but Standard and Poor's writes that it doesn't see a sustainable future for Peabody absent "comprehensive restructuring." In other words: bankruptcy.