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Burlington Northern Santa Fe Corp.'s $700 Million Shelf Assigned Preliminary 'BBB+' Rating Sep 02
Standard & Poors, Sep 2002
Abstract
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
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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