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Canadian National Railway Co.'s Ratings Removed From CreditWatch; Ratings Affirmed Mar 00
Standard & Poors, March 2000
Abstract
TORONTO (Standard & Poor's CreditWire) March 20, 2000--Standard & Poor's today affirmed its long-term ratings on Canadian National Railway Co. and removed them from CreditWatch, where they were placed Dec. 20, 1999. The outlook is positive. Standard & Poor's also affirmed its short-term ratings on the company, which were not on CreditWatch (see list below for all rating actions). The ratings were initially placed on CreditWatch after the announcement that Canadian National and Burlington Northern Santa Fe Corp. (BNSF; triple-'B'-plus/Developing/'A-2') planned to combine in a tax-free, all-stock transaction. It was Standard & Poor's highly preliminary view that if the transaction was completed as proposed Canadian National's ratings would be raised to an equivalent level with BNSF's ratings. The affirmation of...
Companies mentioned in this report are: Canadian National Railway Co.,Illinois Central Railroad Co.,Burlington Northern Santa Fe LLC
Action: Affirmed, Off CreditWatch
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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