...May 3, 2021 NEW YORK (S&P Global Ratings) May 3, 2021--S&P Global Ratings today assigned its '###+' issue-level rating to Norfolk, Va.-based railroad Norfolk Southern Corp.'s proposed senior unsecured notes. The company will issue a portion of these notes under its green financing framework and use the proceeds to fund certain eligible projects, such as improving its locomotives' fuel efficiency, purchasing renewable energy, investing in green buildings, and implementing pollution control projects. Norfolk Southern will use the remaining portion for general corporate purposes. We do not view the green bond issuance as having any effect on the company's credit quality. That said, our '###+' issuer credit rating on Norfolk Southern incorporates our view of certain environmental factors related to its business. The company, like other railroads, benefits from the more fuel-efficient and less-polluting nature of transporting goods via rail rather than truck. The company has also somewhat improved...
