Fitch rates CNH Industrial BBB-

Fitch Ratings said it assigned CNH Industrial NV (CNHI) and published U.S.-based CNH Industrial Capital LLC (CNHI Capital) long-term issuer default ratings of BBB-.

The agency also published CNH Industrial Capital's short-term issuer default rating of F3.

The outlook is stable.

Fitch said the ratings of CNHI reflect its strong business profile, including leading market positions in commercial vehicles and agricultural equipment and diversification by end-market and geography.

The ratings also reflect operating margins that are commensurate with the agency’s expectations for BBB category capital goods companies and deleveraging prospects. The ratings for CNHI Capital incorporate support from CNH Industrial.

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