Industry Economic And Ratings Outlook: North American Transportation Ratings Continue To Be Generally Stable, But The Slowing U.S. Economy Is A Concern Aug 12
- Language: English
- Published: August 2012
- Region: North America, United States
On May 9, 2007, Standard & Poor's Ratings Services lowered its corporate credit rating on Conrail Inc. and unit Consolidated Rail Corp. to 'BBB-' from 'BBB'. In addition, we lowered our ratings on various equipment trust certificates to 'A-' from 'A'. The outlook is stable. The rating action follows a similar downgrade on CSX Corp. on May 8, 2007, after CSX Corp. increased its share buyback program. Conrail Inc. is jointly owned by freight railroads Norfolk Southern Corp. (BBB+/Stable/A-2) and CSX Corp. (BBB-/Stable/A-3), 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 and the outlook is set at the...
Companies mentioned in this report are: Conrail Inc.,CSX Corp.,Norfolk Southern Corp.,Consolidated Rail Corp.
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Conrail Inc.,CSX Corp.,Norfolk Southern Corp.,Consolidated Rail Corp.