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Research Update: Conrail Inc. Ratings Affirmed At 'BBB-'; Outlook Revised To Positive Apr 10 Product Image

Research Update: Conrail Inc. Ratings Affirmed At 'BBB-'; Outlook Revised To Positive Apr 10

  • Published: April 2010
  • Standard & Poors

Abstract
We are affirming our ratings on Philadelphia-based Conrail Inc., including the 'BBB-' long-term corporate credit rating. We are revising the outlook to positive from stable. On April 20, 2010, Standard & Poor's Ratings Services affirmed its 'BBB-' corporate credit rating on U.S.-based Conrail Inc. and unit Consolidated Rail Corp. and revised the outlook to positive from stable. The rating actions follow a similar outlook revision on CSX Corp. on April 19, 2010, following an improving operating environment and earnings growth. (Please see the research update on CSX published April 19, 2010.) Freight railroads Norfolk Southern Corp. (BBB+/Stable/A-2) and CSX Corp. (BBB-/Positive/--) jointly own Conrail Inc., and own 58% and 42%, respectively, of the company. The corporate credit rating for Conrail...

Companies mentioned in this report are: Conrail Inc.,CSX Corp.,Norfolk Southern Corp.,Consolidated Rail Corp.
Action: Affirmed
Action: Outlook: Positive

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Conrail Inc.,CSX Corp.,Norfolk Southern Corp.,Consolidated Rail Corp.

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