Burlington Northern Santa Fe Corp.'s $700 Million Shelf Assigned Preliminary 'BBB+' Rating Sep 02
- ID: 1928347
- September 2002
- Standard & Poors
NEW YORK (Standard & Poor's) Sept. 18, 2002-- Standard & Poor's Ratings Services said today it assigned a preliminary triple-'B'-plus rating to Burlington Northern Santa Fe Corp.'s $700 million shelf registration for senior unsecured debt securities. At the same time, Standard & Poor's affirmed its triple-'B'-plus corporate credit and 'A-2' commercial paper ratings on the company. The outlook is negative. Burlington Northern is a Class 1 railroad with about $10 billion of debt (including off-balance-sheet obligations.) "Ratings reflect the company's strong competitive position in the low-risk U.S. freight railroad industry, offset by a somewhat aggressive financial policy," said Standard & Poor's credit analyst Lisa Jenkins. Fort Worth, Texas-based Burlington Northern operates the second-largest rail network in North America. The company...
Companies mentioned in this report are: Burlington Northern Santa Fe LLC
Action: New Rating
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