New US rail standards will not impact ABS – Element

Wuhan Railway_230px
By Matthew Scully
23 Jul 2014

Incoming US safety rules that would phase out certain railcars and impose retrofit requirements on others will not materially affect railcar lease securitizations, according to an issuer in the space.

The US Department of Transportation unveiled Wednesday anticipated safety standards that will phase out over two years older DOT 111 tank cars, used to ship flammable liquids, including crude oil. The rules will also impose retrofit requirements on new and existing cars. The new standards follow a string ...

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