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TEXT-S&P rates Patriot Coal's DIP facility 'BB-'
Aug 16 - Overview -- Patriot Coal Corp. has obtained $802 million of debtor-in-possession (DIP) credit facilities consisting of $500 million of new money facilities and a $302 million roll-up facility for outstanding pre-bankruptcy letters of credit. -- We are assigning point-in-time ratings to Patriot's $500 million "new money" DIP credit facilities. We are rating the $125 million DIP revolving credit facility 'BB-' and the $375 million DIP term loan 'B+'. Rating Action On Aug. 16, ...
Published By: Reuters (Company news) - Thursday, 16 August, 2012