S&P: CSX up to stable

Standard & Poor's said it revised its outlook on CSX Corp. to stable from negative and raised the short-term corporate credit rating on the company to A-2 from A-3. The BBB long-term corporate credit rating was affirmed.

The rating actions follow CSX's announcement that it is tendering for up to $1 billion of debt.

S&P said the rating actions reflect the improved credit profile that will result from the company's planned repayment of debt and the likelihood that ongoing network efficiency initiatives and favorable end-market conditions will enable the company to generate improved operating results over the near to intermediate term.

© 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.