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date 13 October 1997 source Railtrack plc type Press release
Railtrack PLC’s Finance Director, Norman Broadhurst, today welcomed Standard & Poor’s upgrade of the company’s long term rating from A+ to AA- and the assignment of a short term rating of A-1+.
"Railtrack has already delivered strong financial results which demonstrate the company’s ability to realise the benefits of private ownership," said Mr. Broadhurst.
"The upgrade allows us access to more investors, giving Railtrack greater flexibility in arranging its financing. The upgrade shows the sound financial management and robustness of Railtrack," he added.
The upgrading endorses Railtrack’s strong financial profile, necessary to support the company’s major £4 million a day investment programme, which is taking place over the next 10 years to regenerate 2,500 stations and create a railway fit for the 21st century.
