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DBRS removes Deere's ratings from 'under review' status

DBRS removed the long-term ratings of Deere & Co. and its subsidiaries from under review with developing implications after the manufacturing giant completed its acquisition of Wirtgen Group.

The rating agency also confirmed Deere's ratings at A with a stable trend following the acquisition, which is expected to modestly strengthen the company's business profile.

Wirtgen, a road construction equipment manufacturer, will diversify and improve the scale of Deere's construction equipment business, according to DBRS.

"Additionally, Deere's margins are expected to benefit from both Wirtgen's higher-margin operations and synergies generated from combining the operations," the rating agency said.