DBRS Assigns A (low) Rating with Stable Trend to Finning Debt Issuance

DBRS has today assigned a rating of A (low) with a Stable trend to Finning International Inc.’s (Finning or the Company) issuance of seven-year, $200 million medium-term notes (the Notes), with a 3.232% coupon, maturing on July 3, 2020. The Notes are expected to settle on July 3, 2013.

The Company intends to use the funds from the issuance towards redemption of $250 million notes, which were called on June 3, 2013, and which will be redeemed effective July 5, 2013.

The Notes will be direct, unsecured and unsubordinated obligations of Finning and rank pari passu with all other unsecured and unsubordinated indebtedness of the Company. The debt offering has been made under the base shelf prospectus dated May 22, 2012, which allows offerings of up to $600 million of medium-term notes.

Notes:
All figures are in Canadian 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.