(Source: Reuters, June 11, 2012)
WASHINGTON, D.C. — Credit rating upgrades can’t come fast enough for U.S. railroads looking to slice hundreds of millions of dollars from borrowing costs to fund massive projects to upgrade the nation’s freight network. The higher ratings also will help the railroads battle a slump in coal shipments, which is hurting their revenue, by freeing up funds to reconfigure terminals to handle more shale and oil-related shipments.
Full story: CNBC