Moody's might lift CP Railway

Moody's Investors Service said it placed Canadian Pacific Railway Co.'s Baa3 senior unsecured rating under review for possible upgrade.

"The review is driven by the significant improvement in CPR's operating results and cash flow generation since new management was installed in mid-2012," Moody's vice president and senior credit officer Darren Kirk said in a news release.

"The pace of CPR's progress has exceeded our expectations, leading to current key credit metrics that are indicative of a higher rating."

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