S&P assigns A to Union Pacific notes

S&P said it assigned its A issue-level rating to Union Pacific Corp.'s senior unsecured notes due 2046.

At the same time, the company announced an add-on to its existing senior notes due 2026. The A issue-level rating on those notes remains unchanged.

“Our ratings on Union Pacific reflect the U.S. freight railroad industry's favorable risk characteristics and the company's solid competitive position, moderate financial policies, and strong liquidity. Price competition from other railroads and trucking companies on selected commodities and the company's high capital requirements, which are typical of the industry, somewhat offset these strengths,” S&P said in a news release.

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