Foundation Coal prepays $30 million of bank debt

By Sara Rosenberg

New York, Feb. 8 - Foundation PA Coal Co., an affiliate of Foundation Coal Holdings Inc., prepaid $30 million of bank debt during the fourth quarter using cash flows from continuing operations, according to a company news release.

During 2005, the company prepaid a total of $50 million in bank debt, including the $20 million term loan B prepayment made in the third quarter using cash balances.

At Dec. 31, leverage was about 2.1 times, compared to 4.5 times at Dec. 31, 2004.

Foundation Coal is a Linthicum Heights, Md.-based coal producer.

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