NEW YORK (Standard&Poor's) May 19, 2011--Standard&Poor's Ratings Services said today that it has assigned its 'BBB+' issue-level rating on Norfolk, Va.-based Norfolk Southern Corp.'s issuance of $400 million in 6% senior unsecured notes due May 23, 2111. The company will use the proceeds from the offering to fund general corporate purposes. The notes are senior unsecured obligations of Norfolk Southern, ranking equally with all other unsecured indebtedness. As of March 31, 2011, given the company's strong business profile, credit metrics were acceptable for the rating, with adjusted funds from operations (FFO) to total debt at about 36% and debt to total capital at 43%. The ratings on Norfolk Southern Corp. reflect its strong competitive position as
