DBRS rates Caterpillar notes A

DBRS said it assigned A ratings to Caterpillar Financial Services Ltd.’s issuance of C$200 million medium-term notes due on Dec. 9, 2019 and C$250 million medium-term notes due on June 8, 2021.

The trends are stable.

The notes will be direct unsecured obligations of the company and will rank pari passu with all other unsecured and unsubordinated debt of the company, DBRS said.

The agency said the ratings are based on the rating of the ultimate parent, Caterpillar Inc. (A, stable), as the company’s debt is unconditionally guaranteed by Caterpillar Financial Services Corp. (A, stable), which is also rated in line with Caterpillar Inc.

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