We are affirming our ratings, including our 'BBB+' long-term corporate credit rating, on Norfolk Southern Corp. We are revising our liquidity assessment to "adequate" from "strong" since we do not believe that sources of liquidity would exceed uses by at least 1.5x over the next 12 to 18 months due to the company's elevated capital spending and shareholder distributions. The stable outlook reflects our belief that the company will maintain credit measures consistent with its "intermediate" financial risk profile because of its focus on operating efficiency and the ability to pull back on share buybacks, despite our expectations for continued weakness in the coal transport business over the next year. On Sept. 9, 2015, Standard&Poor's Ratings Services affirmed
