Research Update: Conrail Inc. Apr 02
- ID: 1928029
- April 2002
- Standard & Poors
On April 30, 2002, Standard & Poor's affirmed its 'BBB' corporate credit rating on Conrail Inc. and ratings on Consolidated Rail Corp. and revised the outlook to stable from negative. The ratings on Conrail Inc. are based on the arrangements structured by Norfolk Southern Corp. (owning 58% of Conrail) and CSX Corp. The outlook revision reflected the outlook revision on Norfolk Southern. Norfolk Southern Corp. (owning 58% of Conrail) and CSX Corp. (owning 42%) have arranged to service, but not assume or guarantee, Conrail's existing debt. The arrangements followed the Surface Transportation Board's June 1998 approval of a petition filed by Norfolk Southern and CSX to control and operate Conrail. Conrail's corporate credit rating is set at the lower of...
Companies mentioned in this report are: Conrail Inc.,CSX Corp.,Norfolk Southern Corp.,Consolidated Rail Corp.
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Product Type: Research Update
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