The US coal group has entered into an amendment to its revolving credit agreement, which will provide it with continued access to its revolving credit facility during the strategic review process.

The company has not made a decision to pursue any specific transaction or other strategic alternative, and there can be no assurance that the exploration of strategic alternatives will result in the identification or consummation of any transaction, it said in a statement.

“The company does not intend to comment further regarding this process until such time as its board of directors has determined the outcome of the process or otherwise determined that disclosure is required or appropriate,” James River said in a statement.

James River Coal, a coal producer in Central Appalachia and the Illinois Basin, sells metallurgical, bituminous steam and industrial-grade coal to electric utility companies and industrial customers both domestically and internationally.

The company's operations are managed through operating subsidiaries throughout eastern Kentucky, southern West Virginia and southern Indiana.

To assist in the process of identifying, evaluating and pursuing potential strategic alternatives, the company has engaged Perella Weinberg Partners LP as restructuring advisor, Deutsche Bank Securities as M&A advisor and Davis Polk & Wardwell as legal advisor.