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$WLT,...Walter Energy pushes back interest payments

Walter Energy (WLT -3.2%) opens lower after saying it is working with bondholders and will delay interest payments due Wednesday, electing to take a 30-day grace period under indenture agreements with holders of its 9.5% senior secured notes due 2019 and 8.5% senior notes due 2012.

WLT says its decision does not reflect a current liquidity issue, as it had ~$435M of cash and investments as of March 31.