26.02.2015 15:38:00
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Genesee & Wyoming Inc. -- Moody's affirms Genesee & Wyoming's ratings; CFR at Ba2; outlook remains stable
New York, February 26, 2015 -- Moody's Investors Service ("Moody's") affirmed the ratings of Genesee & Wyoming Inc. ("Genesee & Wyoming") and Genesee & Wyoming Australia Pty Ltd, including the Ba2 Corporate Family Rating ("CFR") and the Ba2 rating of the secured credit facility. The outlook remains stable. This rating action follows Genesee & Wyoming's agreement to acquire approximately 95% of the shares in Freightliner Group Limited ("Freightliner"), a European freight rail operator, for approximately GBP490 million, or $755 million at current exchange rates, in cash. The acquisition will be 100% debt-financed.