Arch Coal Delays Interest Payment, Continues Discussions With Creditors

Arch Coal (NYSE:ACI) will delay its bond interest payment by 30 days, Reuters reported. Its $90 million interest payment was due Tuesday.
As quoted in the publication:

The company, which ended a proposed debt swap in October that was seen as key to delaying a potential bankruptcy, said it plans to use the grace period to continue talks with creditors to restructure its balance sheet.
Arch Coal, struggling under strict regulation and plummeting coal prices, had said last month that it could follow its smaller peers into bankruptcy in the near term, even if current talks with creditors yield a restructuring agreement.

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