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Research Update: Burlington Northern Santa Fe Corp. Assigned 'BBB+' Rating on $250 Million Notes Nov 04 Product Image

Research Update: Burlington Northern Santa Fe Corp. Assigned 'BBB+' Rating on $250 Million Notes Nov 04

  • Published: November 2004
  • Standard & Poors

Abstract
On Nov. 23, 2004, Standard & Poor's Ratings Services assigned a 'BBB+' rating to Burlington Northern Santa Fe Corp.'s $250 million 4.875% notes due 2015. The company's 'BBB+' corporate credit rating is affirmed. The outlook is stable. The Fort Worth, Texas-based freight railroad has about $10 billion of lease-adjusted debt. Ratings on Burlington Northern Santa Fe Corp. (BNSF) reflect the company's strong competitive position in the low-risk U.S. freight railroad industry and its improved operating outlook. Offsetting these strengths, to some extent, is price competition from other railroads and trucking companies and the capital intensity of the industry. BNSF operates the second-largest rail network in North America. The company enjoys strong positions in upper-Midwest grain traffic, Wyoming- and Montana-based low-sulfur...

Companies mentioned in this report are: Burlington Northern Santa Fe LLC
Action: New Rating

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Burlington Northern Santa Fe LLC

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