Good position in the North American compact construction equipment market. Exposure to industry volatility due to cyclical demand. High dependence on compact construction equipment products. Stable operating performance likely over the next 12 months. Likely positive free operating cash flows over the next 12 months owing to moderate capital spending. Potential high volatility in cash flows and financial ratios. The stable outlook on Doosan Bobcat Inc. (DBI) reflects our expectation that the company will maintain stable profitability and modestly improve its financial position over the next one to two years, thanks to its well-established market position and good cash flows. The ratings could come under pressure if we lower our assessment of the group credit profile (GCP) of DBI's parent,
