NEW YORK (AP) â¿¿ Moody's Investors Service upgraded the corporate family rating for James River Coal Co. on Thursday, saying the mining company has a large cash balance and should generate enough money over the next year to cover its costs. The miner's rating was boosted to "Caa2" from "Caa3." That's still in junk territory. About $150 million of rated securities are affected by change. James River had $153 million of unrestricted cash and approximately $32 million of restricted cash at the end of March â¿¿ most from a decision to issue $172.5 million of convertible notes in November. The outlook for James River is stable. The company is headquartered in Richmond, Va. and owns mines in central Appalachia and the Illinois basin. Its shares rose 92 cents, or 5.9 percent, to $16.41 in trading Thursday.
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