| Title: | Research Update: CNH Global N.V. Rating Raised To 'BBB-' After Same Action On Fiat; Outlook Stable |
| Price: | $175.00 |
| Publication Date: | Apr 30, 2008 |
| Report Type: | Research Update |
| Abstract: | On April 30, 2008, Standard&Poor's Ratings Services 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 Owing to the investment-grade rating, recovery methodology is no longer applicable and Standard&Poor's has thus withdrawn its '4' recovery rating on Case Corp.'s and Case New Holland Inc.'s senior unsecured debt.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 Global N.V. are the same as those on Fiat because of the close ties between the two. |
| Brief Excerpt: | RESEARCH Ratings Definitions Research Update: CNH Global N.V. Rating Raised To '###-' After Same Action On Fiat; Outlook Stable Publication date: ##-Apr-#### Primary Credit Analyst: Dan Picciotto, CFA, New York (#) ###-###-####; dan_picciotto@standardan... |
| Word Count: | 1227 |
| Ticker: | CNH |
| Issuer: | CNH Global N.V. |
| GICS: | Construction & Farm Machinery & Heavy Trucks (20106010) |
| Sector: | Global Issuers, Corporations, Consumer Products, Capital Goods, Automotive |
| Country: | United States |
| Region: | United States |
| Format: | 
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