Fitch: Poor Unsecured Recoveries Expected for Walter Energy

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NEW YORK--(BUSINESS WIRE)--Poor unsecured bond recoveries are expected following Walter Energy Inc.'s filing bankruptcy under Chapter 11 today, according to Fitch Ratings. The coal miner, along with the rest of the industry, has been struggling with depressed coal prices for several years. Walter's bankruptcy was driven by a market oversupply of metallurgical coal in addition to an untenable debt load stemming from the company's acquisition of Western Coal Corp., which occurred during a period

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