NEW YORK (Standard&Poor's) April 3, 2008--Standard&Poor's Ratings Services today assigned its 'BBB+' rating to Norfolk Southern Corp.'s $600 million 5.75% senior notes due 2018. The notes are being issued under Rule 144a, with registration rights. Proceeds from the debt issue will be used for general corporate purposes. "Ratings on Norfolk Southern [BBB+/Stable/A-2] reflect its strong competitive position as one of the two large eastern freight railroads and the favorable industry risk characteristics of the U.S. freight railroad industry," said Standard&Poor's credit analyst Lisa Jenkins. Offsetting these strengths, to some extent, is price competition from other railroads and trucking companies and the capital intensity of the industry. Although the softening economy is having an adverse
