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Burlington Northern Santa Fe Long-Term Ratings Lowered To 'BBB' From 'BBB+'; Outlook Stable Feb 07
Standard & Poors, Feb 2007
Abstract
NEW YORK (Standard & Poor's) Feb. 15, 2007--Standard & Poor's Ratings Services today lowered its long-term corporate credit and senior unsecured debt ratings on Burlington Northern Santa Fe Corp. and unit BNSF Railway Co. to 'BBB' from 'BBB+'. The company's 'A-2' commercial paper rating was affirmed. The outlook is stable. The rating action follows the company's announcement that its Board of Directors has authorized an additional 30 million share repurchase program and that it expects debt levels to increase as a result. The Board had previously authorized 180 million shares for repurchase, approximately 14 million of which remains outstanding. 'The company's financial risk profile will weaken somewhat as a result of the increased debt usage, with ratios that will be...
Companies mentioned in this report are: Burlington Northern Santa Fe LLC,BNSF Railway Co.
Action: Downgraded
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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