- Published: April 2011
- Region: Global
Credit FAQ: Are U.S. Railroads On Track For A Recovery In 2010? May 10
- Published: May 2010
- Region: United States
- Standard & Poors
Improved traffic volumes across most commodity types, favorable pricing, good network operating efficiency, and benefits of operating leverage drove positive first-quarter 2010 performance for the large U.S. railroads. On April 19, 2010, Standard & Poor's Ratings Services revised its outlook on our ratings to positive from stable on two U.S. railroads, CSX Corp. (BBB-/Positive/--) and Union Pacific Corp. (BBB/Positive/A-2). Also of note, earlier this year we raised our ratings on Burlington Northern Santa Fe LLC (BNSF; BBB+/Stable/A-2) following the completion of Berkshire Hathaway Inc.'s acquisition of the railroad. Berkshire Hathaway does not guarantee Burlington Northern Santa Fe's debt, but we give a one-notch credit for potential support from the more highly rated parent. In this Credit FAQ, we will address...
Companies mentioned in this report are: CSX Corp.,Union Pacific Corp.,Norfolk Southern Corp.,Burlington Northern Santa Fe LLC
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
SHOW LESS READ MORE >
CSX Corp.,Union Pacific Corp.,Norfolk Southern Corp.,Burlington Northern Santa Fe LLC