Conrail Inc. Outlook Revised to Stable From Negative; Ratings Affirmed Apr 02
Standard & Poors, April 2002
Abstract
NEW YORK (Standard & Poor's) April 30, 2002-- Standard & Poor's said today it affirmed its triple-'B' corporate rating on Conrail Inc. and ratings on Consolidated Rail Corp. and revised the outlook to stable from negative, based on a similar outlook revision for Norfolk Southern Corp. Total debt is about $1.1 billion. "The ratings on Conrail Inc. are based on the arrangements structured by Norfolk Southern Corp. (owning 58% of Conrail) and CSX Corp. The outlook revision reflects the outlook revision on Norfolk Southern," said Standard & Poor's credit analyst Martin Knoblowitz. Norfolk Southern Corp. (owning 58% of Conrail) and CSX Corp. (owning 42%) have arranged to service, but not assume or guarantee, Conrail's existing debt. The arrangements followed the...
Companies mentioned in this report are: Conrail Inc.,CSX Corp.,Norfolk Southern Corp.
Action: Outlook Revised
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.
Conrail Inc.,CSX Corp.,Norfolk Southern Corp.
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