S&P boosts Amtrak

Standard and Poor's said it raised its corporate credit rating on National Railroad Passenger Corp. (Amtrak) to A- from BBB+ and removed the rating from Creditwatch, where it had placed it with positive implications on April 6.

The outlook is now stable.

The rating change follows its review of Amtrak's stand-alone credit profile in the wake of what appears to be increased Congressional support for Amtrak and application of its new criteria for rating government-related-entities, the agency said.

S&P added that the ratings on Amtrak reflect its important public-service role, ongoing government support, and demonstration of increased consensus on Amtrak's strategic direction, offset by the company's significant losses before government appropriations and continuing operating challenges.

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