Standard&Poor's Ratings Services derives its 'A' corporate credit rating on Caterpillar Inc. (CAT) from: Our anchor of 'a-', based on our "strong" business risk and "intermediate" financial risk profile assessments for the company. The anchor choice, given the two potential outcomes ('a-' and 'bbb+') for this combination of business risk and financial risk assessments, reflects our view that Caterpillar's business and financial risk profile assessments are at the very upper end of their respective categories, compared with other 'a-' rated companies Our comparative rating adjustment, which had a one-notch positive impact on the rating outcome. The largest manufacturer of construction and mining equipment globally and a leading provider of engines and power generation systems Diversity of products, end
