Coal news and updates

China coal miner defaults on 190mln bond payment

 Hidili Industry International Development Ltd. reported on October 30 that it could not pay bond principal and interest due 

    $190.6 million due today
    Failed to raise money from banks or asset sales

    "Hidili's struggle could have a chain reaction in China's real economy," said Ji Weijie, a credit analyst in Beijing at China Securities Co. "Banks could see rising bad debts, and smaller companies counting on distressed companies like Hidili could also fail."

source: http://news.forexlive.com