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Bulletin: Burlington Northern Santa Fe Corp.'s $750 Mil. Unsecured Notes Are Rated 'BBB' Sep 09
Standard & Poors, Sep 2009
Abstract
NEW YORK (Standard & Poor's) Sept. 23, 2009--Standard & Poor's Ratings Services today assigned its 'BBB' rating to Burlington Northern Santa Fe Corp.'s (BNSF) $750 million unsecured notes due October 2019. 'The ratings on Fort Worth, Texas-based BNSF reflect the company's strong competitive position in the low-risk U.S. freight railroad industry and solid earnings and cash flow generation,' said Standard & Poor's credit analyst Anita Ogbara. Although the soft economy has put pressure on volumes, BNSF has partially offset weaker demand with favorable pricing and cost controls. For the second quarter ending June 30, 2009, the company reported revenues of $3.3 billion, down 26% versus 2008. However, operating income was up 12% to $797 million versus 2008, largely due to...
Companies mentioned in this report are: Burlington Northern Santa Fe LLC
Action: Bulletin
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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