Moody’s DISSES Alpha Natural Resources and Arch Coal to Lead These Must Know Morning Stories
Alpha Natural Resources (NYSE:ANR) and Arch Coal (NYSE:ACI) see their credit ratings lowered deeper into junk status by Moody’s on concerns that ANR’s debt profile will further deteriorate as it continues to operate at lower volumes, while ACI’s business could be adversely affected due to a soft market for steel-making coal and problems in its power-plant coal operations.
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Accenture (NYSE:ACN) wins the mandate to implement California’s $359 million statewide health-insurance exchange by a target date of October 2013, which is in advance of a federal deadline of January 2014, allowing eligible Californians to pre-enrol for health plans.
Sara Lee (NYSE:SLE) spin-off unit Hillshire Brands (NYSE:HSH) commences trading today with rumors citing it is a likely acquisition target given its unique status as a pure-play meat company owning a collection of reputed brands.
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