NY -- Standard&Poor's CreditWire 2/26/98 -- Standard&Poor's today lowered its commercial paper rating on Union Pacific Corp. to 'A-3' from 'A-2'. At the same time, Standard&Poor's placed the triple-'B' corporate credit, senior secured and unsecured debt ratings on Union Pacific Corp. and subsidiaries, and the single-'A' rating on the equipment trust certificates of subsidiary railroads (see list below) on CreditWatch with negative implications. The commercial paper downgrade reflects expectations that near-term credit protection measures will be weaker than anticipated due to ongoing operational problems. The CreditWatch listing follows Union Pacific Corp.'s announcement that, in contrast to previous expectations, it will likely report a loss for the first quarter of 1998 as a result of
