DBRS Assigns BBB (low) Rating to New CNH Inc. Issue

DBRS has today assigned a rating of BBB (low) to the $1.0 billion principal amount of notes (the Notes), maturing September 1, 2013, issued by Case New Holland Inc. (CNH or the Company).

The Notes will be unconditionally, irrevocably, joint and severally guaranteed by CNH Global N.V. (CNH Global) and certain of its direct and indirect subsidiaries, including certain of CNH’s direct and indirect subsidiaries.

The will rank pari passu with all of the Company’s and the guarantors’ other unsecured, unsubordinated debt.

The net proceeds of the offering will be used for general corporate purposes and primarily for the repayment of debt, including the repayment of debt owed to CNH’s parent company, Fiat S.p.A.

The debt is issued in accordance with Rule 144a.

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

The applicable methodology is Rating the Industrial Products Industry, which can be found on our website under Methodologies.

This is a Corporate Rating.