2 agencies cut short-line operator G&W’s rating, cite debt-funded dividend

Capt. John

The detailed finances of short-line rail operator Genesee & Wyoming (G&W) haven’t been available since it was bought by an infrastructure-focused investment firm in 2019. 

But G&W has publicly traded debt, and that means rating agencies issue reports on certain aspects of its finances. And last week, in a report that is almost two reports in one, S&P Global Ratings (NYSE: SPGI) reduced its rating on G&W debt even as it gave a strong outlook on the company’s North American short-line business.



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