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S&P ups Kansas City Southern
Standard & Poor's said it raised its ratings on Kansas City Southern, including the corporate credit rating to BBB- from BB+.
The outlook is stable.
"Our rating actions reflect KCS' stronger operating profitability, cash flow adequacy, and asset protection measures," S&P credit analyst Anita Ogbara said in a news release.
The company recorded improved funds from operations to total debt of 37% in 2012 (up from 34% in 2011), EBITDA interest coverage of 6.4x (from 4.6x), debt to capital of 39% (from 42%) and total debt to EBITDA of 2.3x (from 2.7x).
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