S&P: RailAmerica developing

Standard & Poor's said it placed its ratings, including its BB- corporate credit rating, on RailAmerica Inc. on CreditWatch with developing implications.

The CreditWatch placement follows an announcement by RailAmerica that it has reached a definitive merger agreement with Genesee & Wyoming Inc.

"We will resolve the CreditWatch listing based on our review of the pro forma business and financial risk profiles as well as discussions with management on its financial policy, liquidity and capital structure for the consolidated entity," said S&P credit analyst Anita Ogbara in a news release.

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