NEW YORK (Standard&Poor's) Aug. 9, 2013--Standard&Poor's Ratings Services today assigned its 'BBB+' issue-level rating to Norfolk Southern Corp.'s new $500 million senior unsecured notes due 2043. Norfolk Southern will use the proceeds from the debt issuance to fund general corporate purposes. The corporate credit rating on Norfolk, Va.-based Norfolk Southern reflects its solid competitive position as one of the two large eastern freight railroads, its strong liquidity position, and the favorable industry risk characteristics of the U.S. freight railroad industry. Price competition from other railroads and trucking companies and the capital intensity of the industry partially offset these strengths. In 2013, our base case assumes that overall freight volumes will be flat due to ongoing weakness
