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DBRS gives John Deere Canada notes A
DBRS said it assigned a rating of A with a stable trend to John Deere Canada Funding Inc.’s issuance of C$300 million 2.7% medium-term notes due Jan. 17, 2023.
The rating is based on the rating of the ultimate parent, Deere & Co., since the company’s debt is unconditionally guaranteed by John Deere Capital Corp., DBRS said.
The issuance is under the C$3.5 billion medium-term note shelf prospectus filed on Aug. 16, 2016.
The notes will be direct, unsecured obligations of the company and will rank pari passu with all other unsubordinated debt of the company.
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