S&P: CSX unaffected

Standard & Poor's said CSX Corp.'s (BBB/negative/A-3) report of $159 million in earnings from continuing operations for the fourth quarter of 2004, a 42% increase over the comparable quarter of 2003 has no impact on the ratings or outlook on CSX.

S&P said the company also reported its 11th consecutive quarter of solid revenue growth.

The improvement in performance reflects continuing economic strength and benefits from operating and yield improvement initiatives, according to S&P.

S&P said its ratings assume that CSX will continue to generate improved service and operating metrics over the near to intermediate term as its implementation of the One Plan network reorganization continues and that financial measures will improve from current subpar levels.

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