James River Coal Downgrade Drags Coal Sector Down

James River Coal (JRCC) plunged 16% on Tuesday after Standard & Poor’s downgraded its corporate credit rating to CCC+ from B- on Monday. In the downgrade report, Standard & Poor’s analyst Megan Johnson cited a weakening coal market, which was bolstered by the warmer-than-usual winter. “In addition, fewer production disruptions in Australia and slowing demand [...]