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Business WeekStandard & Poor's Ratings Services on Wednesday put Massey Energy on its CreditWatch list with negative implications following the explosion at a Massey mine in West Virginia that killed 25 miners. Four miners remain missing.
S&P could lower or affirm Massey's "BB-" non-investment grade corporate credit rating after it completes a review.
S&P said the explosion at Massey's Upper Big Branch mine in Montcoal, W.Va., on Monday probably means the mine will be out of operation for a long time and sales of up to 1.2 million tons of metallurgical coal used in steelmaking could be lost.
The ratings agency estimates that lost production could cost the company $50 million in earnings.
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