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Burlington Northern Santa Fe's $750M Debentures Assigned 'BBB+' Ratings May 11
Standard & Poors, May 2011
Abstract
NEW YORK (Standard & Poor's) May 16, 2011--Standard & Poor's Ratings Services said today that it has assigned its 'BBB+' rating to Burlington Northern Santa Fe LLC's (BNSF) $750 million senior unsecured debentures due 2021 and 2041, final allocations between maturity dates to be determined. BNSF will use proceeds from the debt issuance for general corporate purposes, including working capital, capital expenditures, and the repayment of outstanding indebtedness. The Fort Worth, Texas-based freight railroad has $17.2 billion of adjusted total debt as of March 31, 2011. The ratings on BNSF reflect the company's strong competitive position in the low-risk U.S. freight railroad industry, solid earnings, and cash flow generation. Price competition from other railroads and trucking companies, and the capital...
Companies mentioned in this report are: Burlington Northern Santa Fe LLC
Action: New Rating
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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