Economics
U.S. Bankruptcy Tracker: Coal’s a Canary in the Mine for Energy
- Sector dominates December filings as energy distress rises
- Overall amount of distressed debt fell to pre-pandemic low
This article is for subscribers only.
Coal is suffering one of its worst years ever for bankruptcy, highlighting credit risk in the U.S. energy sector.
Four of this month’s seven Chapter 11 filings were from energy -- including two coal producers -- as troubled debt from the sector continued to grow, despite easing distress in other industries. Seven large U.S. coal companies have sought protection from creditors this year.