Finning International Inc.: Rating Report

On April 25, 2023, DBRS Limited (DBRS Morningstar) confirmed the Issuer Rating and Senior Debentures and Medium-Term Notes rating of Finning International Inc. (Finning or the Company) at BBB (high), and the Company's Commercial Paper rating at R-2 (high). All trends are Stable. The confirmations reflect Finning's robust business and financial risk profiles, which remain commensurate with the current ratings. While the global economic outlook is poised to soften further in the near term, and could outweigh equipment expenditure plans across mining, energy, and construction industries, DBRS Morningstar expects Finning to maintain modest growth from increased demand for product support, strong fundamentals supporting copper mining, and public sector infrastructure spending in Western Canada.