...NEW YORK (Standard & Poor's) May 28, 2015--Standard & Poor's Ratings Services today assigned its '###+' issue-level rating to Norfolk Southern Corp.'s new senior unsecured notes due 2045. Norfolk Southern will use the proceeds from this debt issuance for general corporate purposes, including to redeem and refinance its outstanding debt, increase its working capital, and for other business opportunities. Our corporate credit rating on Norfolk Southern reflects our favorable view of the North American freight railroad industry, given the limited competition from alternate 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. The outlook on our rating on Norfolk Southern is stable. We could lower the rating if the company's financial profile weakens, either as a result of greater-than-expected...
