S&P may lift Amtrak

Standard & Poor's said it placed the BBB+ long-term corporate credit rating on National Railroad Passenger Corp., or Amtrak, on CreditWatch with positive implications.

S&P said the action reflects its belief that government support for Amtrak has strengthened and could contribute to a higher rating.

"Passage of reauthorization legislation for Amtrak in 2008, the level of appropriations Amtrak is currently receiving from Congress, the money provided for Amtrak in the recent stimulus package and the current Administration's embrace of 'green' initiatives all auger well for Amtrak," S&P analyst Lisa Jenkins said in a statement.

Ratings reflect Amtrak's important public-service role and government support, offset by a weak financial profile and ongoing operating challenges, the agency said.

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