S&P rates CSX notes BBB

Standard & Poor's said it assigned its BBB rating to CSX Corp.'s (BBB/stable/A-2) $400 million of senior notes due 2036.

The agency added that proceeds will be used primarily to repay outstanding commercial paper while the rest will be used for general corporate purposes.

"Ratings on CSX reflect the railway's strong competitive position in the low-risk U.S. freight railroad industry and a favorable operating outlook," said S&P credit analyst Lisa Jenkins.

"Offsetting these strengths, to some extent, is price competition from other railroads and trucking companies and the capital intensity of the industry."

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.