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Burlington Northern Santa Fe's Trust-Preferred Securities Rated 'BBB' Dec 05
Standard & Poors, Dec 2005
Abstract
NEW YORK (Standard & Poor's) Dec. 12, 2005--Standard & Poor's Ratings Services today assigned a preliminary 'BBB' rating to Burlington Northern Santa Fe Corp.'s and BNSF Funding Trust 1's $500 million shelf registration for trust-preferred securities. Standard & Poor's also assigned its 'BBB' rating to BNSF Funding Trust 1's $500 million trust-preferred securities. BNSF Funding Trust 1 is a wholly owned subsidiary of Burlington Northern Santa Fe Corp. (BBB+/Stable/A-2; BNSF), which guarantees the securities. BNSF will use the proceeds for general corporate purposes, including working capital, capital expenditures, debt repayment, and the repurchase of its common stock. At the same time, Standard & Poor's Ratings Services affirmed its 'BBB+' corporate credit rating on BNSF. The Fort Worth, Texas-based freight railroad...
Companies mentioned in this report are: Burlington Northern Santa Fe LLC,BNSF Funding Trust I
Action: Affirmed
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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