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Research Update: Conrail Inc. Upgraded To 'BBB' After Rating Action On CSX; Outlook Stable Apr 11
Standard & Poors, April 2011
We are raising our ratings on U.S.-based freight railroad company Conrail Inc., including the corporate credit rating to 'BBB' from 'BBB-'. The stable outlook reflects the outlook on CSX, which together with Norfolk Southern owns Conrail. On April 29, 2011, Standard & Poor's Ratings Services raised its corporate credit rating on Philadelphia, Pa.-based Conrail Inc. to 'BBB' from 'BBB-'. The outlook is stable. The rating action follows a similar rating action on CSX Corp. on April 28, 2011. The upgrade on CSX reflects substantial improvement in the company's operating profitability, cash flow adequacy, and liquidity over the past year. (Please see the research update on CSX published April 28, 2011.) Freight railroads Norfolk Southern Corp. (BBB+/Stable/A-2) and CSX Corp. (BBB/Stable/--)...
Companies mentioned in this report are: Conrail Inc.,CSX Corp.,Norfolk Southern Corp.,Consolidated Rail Corp.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
Conrail Inc.,CSX Corp.,Norfolk Southern Corp.,Consolidated Rail Corp.