S&P ups Union Pacific

Standard & Poor's said it raised its corporate credit rating on Union Pacific Corp. to BBB+ from BBB.

The outlook is stable.

The ratings reflect the favorable risk characteristics of the U.S. freight railroad industry, S&P said, and the company's solid competitive position, moderate financial policies and strong liquidity.

The agency said it expects volumes to continue to improve and pricing to remain favorable over the next several months, resulting in further earnings growth and strengthened credit metrics.

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