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On November 10, 2020, S&P Global Ratings assigned its CCC issue-level rating to CONSOL Energy Inc.'s proposed $100 million unsecured solid waste disposal revenue bonds due in 2050 issued by the Pennsylvania Economic Development Financing Authority. The ratings agency expects CONSOL to use the proceeds from these bonds to finance a waste disposal facilities project at its Bailey Preparation Plant. However, S&P Global assesses that the Company's capital structure could become unsustainable in the long term. Though the ratings agency expects the Company’s credit measures to remain commensurate with its rating over the next year–with leverage peaking at about 5x and interest coverage of more than 3x–it will likely remain difficult for CONSOL to access the capital markets.
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