Alliance Resource Partners, L.P. Withdraws 2020 Operating, Financial Outlook

(RTTNews) - Alliance Resource Partners, L.P. (ARLP) said the company is withdrawing its initial 2020 operating and financial guidance provided on January 27, 2020 which did not reflect the impact of the COVID-19. The Board of ARLP's general partner has suspended the cash distribution to unitholders for the quarter ending March 31, 2020.

Alliance Resource Partners, L.P. also announced a series of actions in response to the impact of the COVID-19 pandemic. The company is temporarily ceasing coal production at all of its Illinois Basin mines. ARLP said it will optimize cash flows through numerous initiatives to reduce costs, expenses, working capital and capital expenditures.