S&P lifts Oshkosh to positive

Standard & Poor's said it affirmed the BB corporate credit rating on Oshkosh Corp.

The outlook was revised to positive from stable.

The agency also said it revised the recovery rating on the company's senior unsecured notes to 3 from 4, indicating 50% to 70% expected recovery in a default.

The outlook revision reflects the potential for an upgrade if the company maintains its good credit measures and continues to pursue a moderate financial policy, including targeted reported debt-to-EBITDA of 1x to 2x, S&P said.

The agency said it expects the company's fire and emergency unit will continue to suffer from weak municipal spending this year, while the defense segment is likely to further decline as a result of declining government defense spending.

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