S&P upgrades Amtrak

S&P said it raised Amtrak’s issuer rating to A from A- on a stronger balance sheet and lower losses.

The agency also raised its rating on Amtrak’s senior unsecured notes to A from BBB+.

“Washington, D.C.-based Amtrak's credit measures have improved substantially and are stronger than we previously expected. This reflects the company's progress on reducing its operating losses, which we believe will continue, and its healthy levels of operating and capital subsidies,” said S&P in a news release.

The outlook is stable.

S&P said it sees Amtrak continuing to gradually narrow operating losses over the next few years.

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