NEW YORK

Standard & Poor's put Massey Energy Co.'s credit rating on watch Tuesday because of uncertainty over the coal company, including reports that it could be sold.

S&P rates Massey's credit at "BB-minus." By putting Massey on watch, the agency could raise, lower or leave its ratings unchanged after it reviews the situation.

The Wall Street Journal reported that the Richmond, Va., company has formed a committee to study options including a sale.

S&P analyst Marie Shmaruk said Massey could become riskier if it makes a debt-financed acquisition or is the object of a leveraged buyout, but could look better with an acquisition that expands its geographic reach.

The company is also dealing with fallout from an explosion this year at one of its mines in West Virginia that killed 29 miners.

Massey shares rose $1.60, or 4.5 percent, to $37.16 in afternoon trading.


BW Extras

 

Most Popular Stories

  1. Three Types of People to Fire Immediately
  2. Lego Is for Girls
  3. Google's Spreading Tentacles of Influence
  4. Gatorade Goes Back to the Lab
  5. Impress Potential Investors in 12 Steps

RSS Feed: Most Read Stories

  1. Three Types of People to Fire Immediately
  2. Which Is America's Best City?
  3. Lego Is for Girls
  4. Top B-School Stories of 2011
  5. Professional Women and a Secure Retirement

RSS Feed: Most E-mailed Stories

  1. Facebook's Holocaust Controversy
  2. America's Best, Affordable Places to Raise Kids
  3. Bullpen Diaries

RSS Feed: Most Discussed Stories

Most Popular Multimedia

  1. Tuition-Free Colleges
  2. Twenty Tips for First-Time Managers
  3. The Best Design Schools in the World

RSS Feed: Most Popular Slide Shows

BW Mall - Sponsored Links

Buy a link now!