NEW YORK (Standard&Poor's) Jan. 8, 2014--Standard&Poor's Ratings Services today assigned its 'A' issue rating to Union Pacific Corp.'s $300 million senior unsecured notes due 2019, $400 million senior unsecured notes due 2024, and $300 million senior unsecured notes due 2044. Union Pacific will use the proceeds from the notes for general corporate purposes, including to repurchase common stock. The ratings on Omaha, Neb.-based Union Pacific reflect the U.S. freight railroad industry's favorable risk characteristics, as well as 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, typical of the industry, somewhat offset these strengths. We characterize the
