(Reuters circulated the following story on July 6.)
NEW YORK — Moody’s Investors Service on Tuesday affirmed its ratings on CSX Corp’s debt but lowered its outlook to “negative” from “stable.”
The ratings agency said the outlook reflected the railroad company’s underperforming expectations and its high borrowings.
Moody’s currently rates CSX senior unsecured debt Baa2, the second-lowest investment-grade rating.