Rail issuer says new rules won't impact ABS

By Matthew Scully
24 Jul 2014

Incoming US safety rules that would phase out certain railway cars and impose retrofit requirements on others will not materially affect rail car lease securitizations, according to an issuer in the sector.

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

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