S&P ups CSX outlook to stable

Standard & Poor's said it revised its outlook on CSX Corp. (BBB-/stable) to stable from negative and affirmed its ratings on the company, including the BBB- long-term corporate credit rating.

"The outlook revision reflects its view that there is lower risk of the adoption of more aggressive financial policies than previously, given recent developments on the board of directors and the current adverse economic and capital market environment," said S&P credit analyst Anita Ogbara.

CSX has scheduled its annual shareholder meeting in May, and no directors have been nominated for election, other than those recommended by the company, the agency said.

Further, one of the dissident shareholders seated last year has indicated he will not run for re-election, the agency added.

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