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Ratings downgrade as U.S. coal company Bowie Resource Partners faces ‘liquidity shortfall’

first_img FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):Bowie Resource Partners LLC could face a liquidity shortfall in the next year if it fails to extend its revolving credit facility, S&P Global Ratings said in a downgrade of the U.S. coal producer.The company’s liquidity may be insufficient to cover its revolver due in August and mandatory amortizations, a June 8 ratings action said. S&P Global Ratings dropped its corporate credit rating for Bowie from “CCC+” to “CCC,” lowered the rating on the company’s $335 million first-lien and $100 million second-lien term loans to “B-” and “CC” from “B” and “CCC” and placed all ratings on CreditWatch with negative implications.“While long-term contracts with large utility customers provide some stability to future cash flows, we view the business to be vulnerable to unexpected outages or operational disruptions given its smaller size and dependence on two anchor customers,” the rating agency wrote.More ($):  Bowie Resource Partners downgraded over concerns of liquidity shortfall Ratings downgrade as U.S. coal company Bowie Resource Partners faces ‘liquidity shortfall’last_img read more

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Colombia Offers to Assist Other Countries in Combating Drug Trafficking

first_imgBy Dialogo January 25, 2011 In an interview published on 23 January, Colombian Defense Minister Rodrigo Rivera said that Colombia has acquired experience in the fight against drug trafficking and could assist other countries in combating it, if the United States and others finance that aid. “We’re not entirely free to offer that cooperation using our own resources, and this is where there’s a place for the new role of allies like the United States and other countries that can finance the (security) aid that Colombia can offer,” Rivera declared to the Bogotá daily El Tiempo. He added that his country has “acquired many capabilities” for the fight against drugs, violence, and kidnapping within the framework of Plan Colombia – which has been sponsored by Washington since 2000 and the budget of which is being gradually reduced by decision of the White House – and that Bogotá is currently assisting Mexico and thirteen other countries, including several in Central America and the Caribbean. That aid “should serve Colombia’s interests in the fight against transnational crime and a portfolio of capabilities that we can offer at the global level,” the minister said. Rivera indicated that Bogotá “will not let down its guard” against drug traffickers, kidnappers, and violent groups, despite the decrease in direct U.S. aid to Plan Colombia, and that the Colombian police and military are already prepared to take over the programs Washington has been financing. The United States dedicated around 465 million dollars in military and financial aid to Plan Colombia in the 2010-2011 fiscal year, compared to 540 million dollars the year before, amid the budget difficulties the White House is facing due to the global crisis. Washington also wants to focus its aid to the Andean country on social programs and strengthening human rights, the judicial system, and other institutions, and not so much on the military apparatus, as was the case in the previous decade. As part of Plan Colombia, approved by former Democratic president Bill Clinton, the United States has given the South American country more than six billion dollars since 2000.last_img read more

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Governor Wolf Applauds Legislative Action, Will Sign Timothy J. Piazza Antihazing Bill into Law

first_imgGovernor Wolf Applauds Legislative Action, Will Sign Timothy J. Piazza Antihazing Bill into Law SHARE Email Facebook Twitter Press Release,  Public Safety,  Schools That Teach Harrisburg, PA – Governor Tom Wolf issued the following statement today after the legislature passed Senator Jake Corman’s Timothy J. Piazza Law to combat hazing:“I thank Senator Corman and bipartisan members of the legislature for getting this important bill to my desk,” said Governor Wolf. “Hazing is counter to the experience we want for college students in Pennsylvania. We must give law enforcement the tools to hold people accountable and ensure schools have safeguards to protect students and curb hazing.”The National Study of Student Hazing reports that 55 percent of college students involved in clubs, teams, and organizations experience hazing.Senate Bill 1090 will increase penalties for all of those involved in hazing; requires schools to have policies and reporting procedures in place to stop hazing; and informs students and parents of what is happening on campus. It also establishes clear-cut parameters on hazing for organizations such as fraternities and sororities.center_img October 15, 2018last_img read more