Moody's rates AGCO notes Baa2

Moody's Investors Service said it assigned a Baa2 rating to AGCO International Holdings BV's upcoming senior unsecured euro-denominated notes.

The notes will be guaranteed by parent company AGCO Corp., rated Baa2 by the agency.

The proceeds are expected to be used to repay multiple senior term loans in a largely debt-neutral transaction, Moody’s said.

The outlook is stable.

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