Chugging along: Canadian Railways and the Coronavirus

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Presented by

Robert Streda and Amaury Baudouin

About this talk

Although a great deal of uncertainty remains related to the severity and duration of the current coronavirus pandemic, Canadian railways have shed some colour on their plans for the rest of 2020 and beyond, and on their ability to weather the current economic fallout from the coronavirus. No industry is immune from the coronavirus and the associated disruptions to the economy and the railway industry, often seen as a reflection of the broader economy, is no exception. DBRS Morningstar views the Canadian railways as more adequately prepared and robust enough to weather the impact of much lower volumes versus its U.S. counterparts. This is due to some differentiating factors and a competitive advantage, which suggest that rating changes for Canadian railways will not likely occur unless the economic scenario worsens considerably from DBRS Morningstar’s base case assumptions. The discussion will last approximately 30 minutes and will be followed by an interactive question-and-answer session. DBRS Morningstar welcomes all who wish to participate.
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Morningstar DBRS is a leading provider of independent rating services and opinions for corporate and sovereign entities, financial institutions, and structured finance instruments globally. Rating more than 4,000 issuers and 60,000 securities, we are the fourth-largest credit rating agency in the world and a market leader in Canada, the U.S. and Europe in multiple asset classes.