Moody's ups Canadian Pacific Railway

Moody's Investors Service said it upgraded Canadian Pacific Railway Co.'s (CPR) senior unsecured ratings to Baa2 from Baa3, concluding the review beginning on Jan. 30.

The outlook is positive.

"The upgrade of CPR's ratings to Baa2 reflects the significant improvement in its operating results and financial position since new management was installed in mid-2012," Moody's vice president and senior credit officer Darren Kirk said in a news release. "The positive ratings outlook signals that the company's ratings could be further upgraded through the next 12-18 months should its strong performance trend continue."

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