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Burlington Northern Santa Fe Rating Raised To 'BBB+'; Off Watch, Outlook Stable Feb 10
Standard & Poors, Feb 2010
Abstract
Berkshire Hathaway Inc. plans to purchase Burlington Northern Santa Fe Corp. in a transaction valued at $44 billion. We are raising our long-term ratings on Burlington Northern Santa Fe to 'BBB+' from 'BBB' and removing them from CreditWatch, where we placed them with positive implications on Nov. 4, 2009, following the announcement of the planned acquisition. We expect Burlington Northern Santa Fe shareholders to complete voting by Feb. 11, 2010. We are taking these actions in anticipation of Berkshire Hathaway's acquisition of Burlington Northern Santa Fe, which we expect to close no later than Feb. 15, 2010. The ratings do not incorporate an explicit parental guarantee from Berkshire Hathaway. However, we give one-notch credit for potential support from the more...
Companies mentioned in this report are: Burlington Northern Santa Fe LLC,Berkshire Hathaway Inc.
Action: CreditWatch Update
Action: Outlook: Stable
Action: Removed From CreditWatch
Action: Upgraded
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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