NEW YORK (Standard & Poor's CreditWire) Oct. 30, 2000--Standard & Poor's today revised its outlook on Union Pacific Corp. (BBB-/Positive/A-3) and its subsidiaries to positive from stable. All ratings are affirmed. The outlook revision reflects recent and expected solid levels of profitability and operating performance. Continuation of these trends should improve the company's credit profile into 2001. For the third quarter of 1999, Union Pacific reported operating income of $570 million versus $515 million in 1999. Main operating unit Union Pacific Railroad reported an operating ratio (operating expenses as a percentage of revenues) of 80.2%, a quarterly best for the merged railroad operation, and a slight improvement from 80.6% in 1999, despite sharply higher fuel prices that caused a four
