Moody’s rates AGCO notes

Moody's Ratings said it assigned AGCO Corp.’s new backed senior unsecured notes a Baa2 rating.

AGCO’s Baa2 long-term issuer rating and the Baa2 backed senior unsecured rating of AGCO International Holdings BV, a wholly-owned subsidiary of parent company AGCO, are unchanged.

AGCO plans to use the proceeds to help fund the $2 billion acquisition of an 85% interest in Trimble Inc.'s portfolio of agriculture assets and technologies through a newly created joint venture.

The outlook is stable.

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