Moody’s cuts outlook for rail industry to negative as freight volumes fall more than expected

, Bitcoin News

Revenue at the North American railroads is likely to shrink this year as freight volumes continue to decline.

Revenue at the North American railroads is likely to shrink this year as freight volumes continue to decline, prompting Moody’s to lower its outlook for the industry to negative from stable.

“North American railroads face deeper and longer-lasting declines in freight volumes than we had previously anticipated,” the ratings agency said, with weakness expected to persist at least through the third quarter.

Moody’s now expects volumes to shrink 3.5 to 4.5 per cent in 2016, pushing industry revenue growth below zero.

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