Deals
CNH CEO to Mull Spinoff Options After Credit Rating Boosted
- Separating truck, tractor businesses would increase value
- CNH first needs ‘more robust’ balance sheet, CEO Tobin says
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CNH Industrial NV, once part of carmaker Fiat, will work to strengthen its balance sheet this year before considering whether to separate its Iveco truck business from the company’s more profitable tractor division, Chief Executive Officer Richard Tobin said.
CNH, which makes farm equipment sold under the Case and New Holland brands, has been cutting debt, which brought its credit rating up to investment grade with two of the three major ratings agencies.