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In Brief: Massey Energy

Standard and Poor's Ratings Services has raised its corporate credit rating and senior unsecured debt ratings of coal producer Massey Energy Co. to a "BB-" from "B+" and gave it a "Stable" outlook. A "BB-" is a noninvestment-grade rating. Said credit analyst Sherwin Brandford : "The upgrade reflects steady improvement in the company's operating performance during the past several quarters as a result of a strong market for metallurgical and steam coal." More .