NEW YORK (Standard&Poor's) Aug. 8, 2014--Standard&Poor's Ratings Services today assigned its 'A' issue rating to Omaha, Neb.-based Union Pacific Corp.'s $350 million senior unsecured notes due 2025 and $350 million senior unsecured notes due 2045. Union Pacific will use the proceeds from the notes for general corporate purposes, including the repurchase of common stock. The ratings on Union Pacific reflect the U.S. freight railroad industry's favorable risk characteristics and the company's solid competitive position, moderate financial policies, and strong liquidity. Price competition from other railroads and trucking companies on selected commodities and the company's high capital requirements, which is typical of the industry, somewhat offset these strengths. We characterize the company's business risk profile as "strong,"
