Norfolk Southern Corp.'s Senior Unsecured Notes Due 2023 Assigned 'BBB+' Rating Aug 12
Standard & Poors, August 2012
Abstract
NEW YORK (Standard & Poor's) Aug. 3, 2012--Standard & Poor's Ratings Services said today that it has assigned its 'BBB+' issue-level rating to Norfolk Southern Corp.'s new senior unsecured notes due 2023. On Aug. 2, 2012, the company announced an offer to exchange certain debt securities. The proposed new note issue will not exceed $600 million. The final size of the notes offering is pending the results of the exchange offer. The ratings on Norfolk, Va.-based Norfolk Southern reflect its solid competitive position as one of the two large eastern freight railroads, its strong liquidity position, and the favorable industry risk characteristics of the U.S. freight railroad industry. Price competition from other railroads and trucking companies and the capital intensity...
Companies mentioned in this report are: Norfolk Southern Corp.
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.
Norfolk Southern Corp.
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