S&P lowers Oshkosh

Standard & Poor's said it lowered Oshkosh Corp.'s corporate credit rating to BB- from BB.

The outlook is negative.

The downgrade reflects weaker prospects in some of Oshkosh's key end markets, which could delay the anticipated improvement in credit measures, S&P said.

Ratings reflect the company's aggressive financial profile, the agency noted, which more than offsets leading business positions in key segments of the specialty vehicle market and satisfactory product and end-market diversity.

As of June 30, Oshkosh's adjusted debt-to-EBITDA ratio was 3.8 times.

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