S&P Credit Research



Title:

CNH Global N.V. Rating Is Raised To 'BBB-' After Same Action On Fiat; Outlook Stable

Price:$100.00
Publication Date:Apr 30, 2008
Report Type:News
Abstract:NEW YORK (Standard&Poor's) April 30, 2008--Standard&Poor's Ratings Services said today that it raised its corporate credit rating on CNH Global N.V. to 'BBB-' from 'BB+' after taking the same rating action on CNH's parent company, Italy-based auto and truck manufacturer Fiat SpA (BBB-/Stable/A-3). (For more information, see Standard&Poor's research update on Fiat, published on RatingsDirect earlier today.) The outlook is stable. Owing to the investment-grade rating, recovery methodology is no longer applicable and Standard&Poor's has thus withdrawn its '4' recovery rating on Case Corp.'s and Case New Holland Inc.'s senior unsecured debt. The corporate credit rating and outlook on publicly traded CNH are the same as those on Fiat because of the
Ticker:CNH
Issuer:CNH Global N.V.
GICS:Construction & Farm Machinery & Heavy Trucks (20106010)
Sector:Global Issuers, Corporations, Capital Goods, Consumer Products, Automotive
Country:United States
Region:United States
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S&P Credit Research

S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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