reports
Moody's Ratings assigns Baa1 ratings to Canadian Pacific Railway's new...
Moody's Ratings (Moody's) assigned Baa1 ratings to Canadian Pacific Railway Company's ("CPR") new CAD $1 billion of backed senior unsecured notes due in 2032, 2035 and 2055. Proceeds will be used by CPR to refinance outstanding indebtedness and for general corporate purposes. CPR's existing ratings ...
Moody's Ratings assigns Baa1 ratings to Canadian Pacific Railway's new...
Moody's Ratings (Moody's) assigned Baa1 ratings to Canadian Pacific Railway Company's ("CPR") new $1.2 billion of backed senior unsecured notes due in 2030 and 2035. Proceeds will be used by CPR to refinance outstanding indebtedness and for general corporate purposes. CPR's existing ratings are unch...
Moody's Ratings upgrades Canadian Pacific's senior unsecured rating to...
Moody's Ratings (Moody's) upgraded Canadian Pacific Railway Company's (CPR) senior unsecured rating to Baa1 from Baa2, its backed senior unsecured rating to Baa1 from Baa2 and its backed senior unsecured shelf rating to (P)Baa1 from (P)Baa2. We also affirmed CPR's Prime-2 commercial paper rating. ...
Moody's affirms Canadian Pacific's Baa2 senior unsecured rating; chang...
Moody's Investors Service (Moody's) affirmed the senior unsecured debt of Canadian Pacific Railway Company (CPR) at Baa2, its backed senior unsecured rating at Baa2, its senior unsecured shelf rating at (P)Baa2 and its P-2 Commercial Paper rating. The outlook was changed to positive from stable. ...
- Moritz Steinbauer
- Robert Streda
- Scott Rattee
- Vineet Khattar
No Port in Sight: West Coast Port Strikes Meaningfully Disrupting Cert...
DBRS Morningstar believes that the ongoing west coast port strikes are seriously disrupting supply chains in the near term as trade comes to a halt. This is causing significant operational disruptions to multiple sectors including the automobile, industrial, railway, fertilizer, and retail sectors. It will also take increasingly longer for supply chains to stabilize relative to the length of the strikes. Despite the significantly disruptive nature of the strikes, we expect that the crisis will...
- Moritz Steinbauer
- Timothy O'Brien
- Vineet Khattar
- Moritz Steinbauer
- Timothy O'Brien
- Vineet Khattar
- Moritz Steinbauer
- Timothy O'Brien
- Vineet Khattar
North American 2023 Railway Outlook: Railways Chugging Along Despite a...
DBRS Morningstar’s neutral 2023 outlook for the North American railway sector reflects our view that the credit risk profiles of railroads in our portfolio will continue to remain supportive of their current ratings. Despite elevated inflation and interest rates, and our projection of an overall economic slowdown, we forecast railways to show resilient revenue and flat to modestly weakening margins, which should support stable cash flow generation. We believe railways will mitigate margin pressu...
- Amaury Baudouin
- Charles Halam-Andres
- Raja Kalra
Why Climate Change Is Unlikely to Derail Canadian Railway Credit Ratin...
This commentary focuses on climate change impacts on Canadian National Railway Company (CN) and Canadian Pacific Railway Company (CP) operations and infrastructure in response to acute and chronic climate events. We discuss the financial materiality of such extreme weather events on the credit profiles of the Canadian railways vis-à-vis their structural characteristics, notably the large size and scale of their operations, strong liquidity, and the resilience of their balance sheets and business...
- Amaury Baudouin
- Charles Halam-Andres
- Raja Kalra
- Amaury Baudouin
- Charles Halam-Andres
- Raja Kalra
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