S&P elevates Doosan Bobcat

S&P said it raised its long-term issuer credit rating on Doosan Bobcat Inc. (DBI) to BB+ from BB and raised the long-term issue ratings to BB+, based on a recovery rating of 3, on the company’s term loan B due 2029.

The outlook is stable.

“The stable outlook on DBI reflects our expectation that the company will maintain its robust profitability and cash flows over the next 12 months. Support will come from its strong position in the North American market for compact construction equipment and an increased buffer in its leverage profile,” S&P said in a news release.

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