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Burlington Northern Santa Fe Corp. Oct 05
Standard & Poors, Oct 2005
Abstract
Positive risk characteristics of the U.S. freight railroad industry; Large and strategically important rail network; Positive near- to intermediate-term outlook due to solid end-market demand and continuing yield improvement initiatives; and Efficient operations, which should enable the company to take advantage of favorable market conditions. Significant debt levels; Capital intensity of operations; and Price competition from trucking companies and other railroads in certain commodity areas. Ratings on Burlington Northern Santa Fe Corp. (BNSF) reflect the company's strong competitive position in the low-risk U.S. freight railroad industry and its favorable operating outlook. Offsetting these strengths, to some extent, is price competition from other railroads and trucking companies and the capital intensity of the industry. BNSF operates the second-largest rail network in...
Companies mentioned in this report are: Burlington Northern Santa Fe LLC,BNSF Railway Co.
Action: Review
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: Full Analysis
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