DRAX, the UK's biggest coal fired power station, said today that despite challenging conditions in commodity markets it was continuing to trade in line with expectations.

The Selby-based power generator said that there had been no material events or transactions other than a £107m share placing in June.

The move came after credit rating agency Standard & Poor downgraded Drax's senior secured debt rating from BBB to BBB- with "negative outlook".

In August, Drax reported EBITDA (profit before interes......for the full story register now for free or login below...