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Burlington Northern Santa Fe Corp.'s $650 Million Notes Rated 'BBB' Mar 08
Standard & Poors, March 2008
Abstract
NEW YORK (Standard & Poor's) March 13, 2008--Standard & Poor's Ratings Services today assigned its 'BBB' rating to Burlington Northern Santa Fe Corp.'s (BNSF; BBB/Stable/A-2) $650 million debentures due in 2018. Proceeds from the debt issue will be used for general corporate purposes, including working capital, capital expenditures, stock repurchases, and the repayment of commercial paper. The outlook is stable. The Fort Worth, Texas-based freight railroad has approximately $14 billion of debt (adjusted for off-balance-sheet items). 'Ratings on BNSF reflect the company's strong competitive position in the low-risk U.S. freight railroad industry and a generally favorable operating outlook,' said Standard & Poor's credit analyst Lisa Jenkins. 'Offsetting these strengths, to some extent, is price competition from other railroads and trucking...
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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