Moody’s Investors Service raised its rating on Moline, Ill.-based Deere & Co.’s debt security, citing the company’s improving operating efficiencies and prudent financial policies, Reuters reported.

“Deere’s commitment to embracing highly demanding operating and reporting disciplines for every business unit and product line is enabling it to generate returns that are much higher than historic levels throughout the business cycle,” Moody’s said in a statement.

Moody’s raised Deere’s rating by one notch to “A2,” its sixth-highest ranking, from “A3,” and indicated another rating change is not anticipated for the next 12 to 18 months.

“This more resilient operating model strengthens Deere’s performance in several areas that are measured in our rating methodology for this sector, and should help the company sustain an A2 credit profile even if there is a cyclical downturn,” Moody’s said.