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Moody’s changes Oshkosh to positive
Moody's Investors Service said it affirmed Oshkosh Corp.’s ratings, including the corporate family rating at Ba2, probability of default rating at Ba2-PD, senior unsecured rating at Ba3 and speculative grade liquidity rating at SGL-2.
The outlook was changed to positive from stable.
Moody’s said the outlook change reflects expectations the company will sustain its comparatively low financial leverage and strong overall credit metrics. Debt/EBITDA compares favorably for the rating category at about 2.1 times for the fiscal year 2017 (ended Sept. 30) and EBITA/interest was also strong at 7.3 times for the same period.
The agency said it expects growth in access equipment and defense, its two largest business segments.
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