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S&P lifts Kansas City Southern
S&P said it raised its long-term issuer credit rating on Kansas City Southern (KCS) and its subsidiaries Kansas City Southern de Mexico SA de CV (KCSM) and Kansas City Southern Railway Co. (KCSR) to BBB from BBB-.
At the same time, S&P raised its short-term ratings on KCS and KCSM to A-2 from A-3.
S&P also raised all of its issue-level ratings on the companies by one notch.
“The upgrade reflects our belief that the risk of a significantly restrictive treaty for U.S.-Mexico trade has lessened following the negotiation of the USMCA. It also reflects our expectation that KCS will continue to generate solid credit measures,” S&P said in a news release.
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