S&P rates Kansas City Southern loans BBB-

Standard & Poor's said it assigned its senior unsecured BBB- issue-level rating to Kansas City Southern Railway Co.'s amended credit facilities.

The facilities consist of a $200 million revolving credit facility and two term loans with a total outstanding amount of $551 million.

The agency said the rating actions follow the triggering of a fall-away collateral provision, which allows the company's facilities to convert to unsecured obligations when investment-grade credit ratings have been assigned by at least two of the three major rating agencies.

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