S&P lifts AGCO from junk

Standard & Poor's said it raised its ratings on AGCO Corp. by one notch, including the corporate credit rating to BBB- from BB+.

The outlook is stable.

The agency said the ratings reflect its expectation that AGCO will maintain investment-grade credit measures and S&P's view that the company has maintained a satisfactory business risk profile.

While the operating environment could continue to weaken somewhat this year, AGCO appears well-positioned to manage the downturn, S&P said.

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