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Peabody sounds debt alarm, again

US coal miner Peabody Energy is engaging its creditors to avoid breaking debt covenants amid a bleak outlook for the domestic thermal coal market, saying it has not ruled out seeking Chapter 11 debt protection in court.

Peabody sounds debt alarm, again Peabody sounds debt alarm, again Peabody sounds debt alarm, again Peabody sounds debt alarm, again Peabody sounds debt alarm, again

Peabody Energy has warned a bleak market outlook has placed its debt covenants under pressure in the current quarter

"Based on our fourth-quarter outlook, it's probable our results will not be sufficient to meet the net leverage ratio requirement under the revolving credit agreement," CFO Mark Spurbeck told