DBRS Assigns AAA Rating to John Deere Capital’s FDIC-Guaranteed Issuance

DBRS has today assigned a AAA rating, with a Stable trend, to the $2 billion in Guaranteed Medium-Term Notes (the Notes) to be issued by John Deere Capital Corporation (JDCC or the Company). The AAA rating is based on the explicit guarantee provided by the Federal Deposit Insurance Corporation (FDIC) Temporary Liquidity Guarantee Program (TLGP), which is backed by the full faith and credit of the United States. Under the TLGP, the FDIC guarantees payment of qualifying debt issued by eligible U.S. savings and loan holding companies, such as JDCC.

The AAA rating reflects DBRS’s opinion as to the guarantor’s ability to honour the guarantee as determined by DBRS’s internal assessment of the sovereign. The Notes are due June 19, 2012, and DBRS expects proceeds from the issuance to be primarily used toward near-term debt repayment. All other JDCC’s debt ratings, including the Company’s existing Senior Unsecured Debt rating of “A” with a Stable trend, remain at their current levels.

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

The applicable methodologies are Rating Banks and Bank Holding Companies Operating in the United States, and Rating the Industrial Products Industry, which can be found on our website under Methodologies.

This is a Corporate rating.