NEW YORK (S&P Global Ratings) Aug. 1, 2016--S&P Global Ratings today assigned its 'A' issue-level rating to Omaha-based Union Pacific Corp.'s senior unsecured notes due 2046. At the same time, the company announced an add-on to its existing senior notes due 2026. Our 'A' issue-level rating on those notes remains unchanged. Union Pacific will use the proceeds from these issuances for general corporate purposes, including repurchasing its common stock. Our 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 are typical of the industry, somewhat offset
