NEW YORK (Standard&Poor's) May 20, 2005--Standard&Poor's Ratings Services assigned its 'BBB' rating to Norfolk Southern Corp.'s $350 million notes due 2029 and $366.6 million notes due 2025. The new notes were issued in connection with the company's offer to exchange new notes and cash for up to $350 million of its outstanding 7.8% notes due 2027, up to $200 million of its outstanding 7.25% notes due 2031, and any and all of its 9% notes due 2021 and was undertaken to improve the company's debt maturity profile. "Ratings on Norfolk Southern Corp. (BBB/Positive/A-2) reflect its strong competitive position as one of the two large eastern freight railroads and the strong business risk profile of the U.S.
