- Language: English
- 62 Pages
- Published: February 2012
- Region: Zimbabwe
Summary: Norfolk Southern Corp. Mar 02
- Published: March 2002
- Region: Norfolk Islands
- Standard & Poors
The ratings on Norfolk Southern Corp. reflect a strong competitive position as one of the two large eastern railroads, and the better-than-average risk profile of the U.S. freight railroad industry. These factors partly offset a substantial debt burden incurred to acquire 58% of northeastern railroad Conrail Inc. in 1997 and a financial profile weaker than anticipated due to post-Conrail merger integration problems. Norfolk, Va.-based Norfolk Southern operates the fourth-largest U.S. rail system, enjoying strong positions in coal transportation to domestic utilities and in chemical movements. Domestic coal carriage, based on substantial reserves in Virginia, West Virginia, and Kentucky, is very stable and affords high margins. However, half of the company's coal contracts will reprice in 2002, and more variable export...
Companies mentioned in this report are: Norfolk Southern Corp.
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >
Norfolk Southern Corp.