CSX Corp.'s Proposed Senior Unsecured Notes Due 2030 And 2049 Rated 'BBB+'

NEW YORK (S&P Global Ratings) Sept. 3, 2019--S&P Global Ratings today assigned its 'BBB+' issue-level rating to U.S. railroad CSX Corp.'s proposed senior unsecured notes due 2030 and 2049. The company will use the proceeds from these notes for general corporate purposes, which may include share repurchases and capital spending, and to fully redeem, upon completion of the offering, CSX's outstanding 3.70% Notes due October 30, 2020. Our 'BBB+' issuer credit rating on CSX reflects our favorable view of the North American freight railroad industry, given the limited competition from alternative modes of commercial freight transport, the formidable barriers to entry, and its moderate cyclicality. Our rating is also based on the company's strong competitive position, extensive rail network, diverse

...September 3, 2019 NEW YORK (S&P Global Ratings) Sept. 3, 2019--S&P Global Ratings today assigned its '###+' issue-level rating to U.S. railroad CSX Corp.'s proposed senior unsecured notes due 2030 and 2049. The company will use the proceeds from these notes for general corporate purposes, which may include share repurchases and capital spending, and to fully redeem, upon completion of the offering, CSX's outstanding 3.70% Notes due October 30, 2020. Our '###+' issuer credit rating on CSX reflects our favorable view of the North American freight railroad industry, given the limited competition from alternative modes of commercial freight transport, the formidable barriers to entry, and its moderate cyclicality. Our rating is also based on the company's strong competitive position, extensive rail network, diverse revenue streams, and strong operating efficiency....

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