S&P upgrades Oshkosh

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

The outlook is stable.

The upgrades reflect Oshkosh's good overall operating performance, including its improved profitability and disciplined financial policy, which includes targeted reported debt-to-EBITDA of 1x to 2x, said Dan Picciotto, an S&P analyst.

The agency said it believes this financial policy supports an intermediate financial risk profile after accounting for the company's potential cash flow and leverage volatility, Picciotto said in a press release.

The company's business risk profile is considered fair, reflecting its market-leading positions in most end-markets and good scale and scope, but also its volatile profitability, the analyst said.

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