DBRS Rates Finning’s $200 Million U.S. Private Placement at A (low)

DBRS has today assigned a rating of A (low), with a Stable trend, to Finning International Inc.’s (Finning) $200 million U.S. private placement of senior notes (the Notes). The Notes consist of two series: (1) $100 million of 3.98% notes due January 19, 2022, and (2) $100 million of 4.08% notes due January 19, 2024.

The Notes will rank pari passu with Finning’s existing senior unsecured obligations. Proceeds will be used to repay debt, including outstanding commercial paper borrowings, and for general corporate purposes.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is Rating Companies in the Capital Goods Dealership Industry, which can be found on our website under Methodologies.