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BNSF Railway Co.'s $284.763 Million Pass-Thru Certs Rated 'A' Jun 07
Standard & Poors, June 2007
Abstract
NEW YORK (Standard & Poor's) June 14, 2007--Standard & Poor's Ratings Services today assigned its 'A' rating to BNSF Railway Co.'s $284.763 million pass-through trust certificates, series 2007-1. BNSF Railway Co. is a wholly owned subsidiary of Burlington Northern Santa Fe Corp. (BNSF; BBB/Stable/A-2). The debt, commonly referred to as equipment trust certificates, is being used to fund the purchase of railroad equipment. 'The certificates benefit from special protection under Section 1168 of the U.S. Bankruptcy Code and are rated one full category above the corporate credit rating on BNSF,' said Standard & Poor's credit analyst Lisa Jenkins. This reflects the likelihood that creditors will continue to receive payment at contracted rates during a potential reorganization, thus reducing default risk...
Companies mentioned in this report are: BNSF Railway Co.,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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