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Conrail Inc. Outlook Revised to Negative From Stable; Ratings Affirmed Mar 04

  • ID: 1928072
  • March 2004
  • Standard & Poors
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NEW YORK (Standard & Poor's) March 30, 2004--Standard & Poor's Ratings Services said today it affirmed its long-term debt ratings on Conrail Inc., including the 'BBB' corporate credit rating. However, Standard & Poor's revised the outlook to negative from stable. Conrail Inc. is jointly owned by 'BBB' rated Norfolk Southern Corp. and 'BBB' rated CSX Corp., which own 58% and 42%, respectively, of the company. The corporate credit rating for Conrail is set at the lower of the corporate credit ratings on CSX and Norfolk Southern. "The outlook revision on Conrail follows the outlook revision on CSX Corp., its 42% owner," said Standard & Poor's credit analyst Lisa Jenkins. CSX and Norfolk Southern began to operate their respective portions of...

Companies mentioned in this report are: Conrail Inc.,CSX Corp.,Norfolk Southern Corp.
Action: Outlook: Negative

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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Conrail Inc.,CSX Corp.,Norfolk Southern Corp.

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