S&P affirms CP Rail

Standard & Poor's said it affirmed the BBB long-term corporate credit rating on Canadian Pacific Railway Co. and removed the ratings from CreditWatch with negative implications, where they were placed Sept. 5 following the company's bid to acquire all shares in Dakota Minnesota & Eastern Railroad Corp. $1.5 billion in cash.

The outlook is negative.

According to the agency, the corporate credit rating reflects a strong business risk profile, which is supported by favorable fundamentals of the North American freight railroad industry, improving operating efficiency, and benign economic and trade performances.

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