Moody’s ups Canadian Pacific to stable

Moody's Investors Service said it affirmed Canadian Pacific Railway Co.’s senior unsecured ratings at Baa1 and commercial paper program at Prime-2.

The outlook was changed to stable from negative.

"The outlook has been stabilized because we expect Canadian Pacific's adjusted leverage will continue to trend lower towards 2.5x due to an improved economic outlook and increased confidence that management is committed to deleveraging," Moody's vice president and senior analyst Jamie Koutsoukis said in a news release.

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