Moody's upgrades Kansas City Southern

Moody's Investors Service said it upgraded Kansas City Southern's and the Kansas City Southern Railway Co.'s corporate family rating to Ba1 from Ba2.

The outlook is stable.

The agency also said it affirmed Kansas City Southern de Mexico SA de CV's corporate family rating at Ba2 with a stable outlook.

The upgrade reflects the strengthening credit profile evidenced by improvements in the company's leverage, profitability and liquidity over the last year, Moody's said, and expectations that the company will be able to sustain strong credit metrics over the near term.

The company has done well over the past few years to reduce and refinance a substantial portion of its long-term debt, extending maturities and lowering its cost of capital, the agency said.

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