NEW YORK (Standard&Poor's) Oct. 12, 2004—The announcement by Oshkosh Truck Corp. (BBB-/Positive/--) that it did not win a large Support Vehicle Program with the U.K. Ministry of Defense, while clearly negative for the company, does not currently affect Standard&Poor's Ratings Services rating or outlook on the company. The Support Vehicle Program for more than 5,000 vehicles is valued at an estimated $2 billion and would have provided Oshkosh Truck revenues and earnings starting in 2007, lessening the impact of the completion of its MTVR contract in 2005. Still, Oshkosh has several organic growth opportunities, particularly with its "Revolution" concrete mixer drum and credit protection measures, including total debt to EBITDA of 0.4x, and total debt to
