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DBRS gives A to John Deere Canada notes
DBRS said it assigned a rating of A with a stable trend to John Deere Canada Funding Inc.’s new issue of 2.05% C$300 million senior unsecured medium-term notes due on Sept. 17, 2020.
The notes are expected to settle on or around Sept. 17.
DBRS said the rating is based on the rating of the ultimate parent, Deere & Co., because John Deere Canada’s debt is unconditionally guaranteed by John Deere Capital Corp., which DBRS also rates in line with Deere & Co. on the basis of a support agreement and the implicit support of the ultimate parent.
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