Doosan Bobcat Inc. 'B+' Rating Affirmed; Outlook Stable; SACP Revised To 'bb' From 'bb-'

We expect DBI to improve its operating profitability and financial metrics modestly over the next one to two years mainly owing to steady growth in demand and ongoing cost optimization. We view the parent group's weaker financial metrics and liquidity position as a constraint on the ratings on DBI. We are affirming our 'B+' long-term corporate credit rating on DBI. We are also affirming our 'BB-' issue rating on the senior secured term loan with a recovery rating of '2' that DBI is guaranteeing. We are revising the SACP for DBI to 'bb' from 'bb-'. The stable outlook reflects our expectation that the company will maintain stable operating performance and modestly improve its financial metrics over the next one to

...+ We expect DBI to improve its operating profitability and financial metrics modestly over the next one to two years mainly owing to steady growth in demand and ongoing cost optimization. + We view the parent group's weaker financial metrics and liquidity position as a constraint on the ratings on DBI. + We are affirming our 'B+' long-term corporate credit rating on DBI. We are also affirming our '##-' issue rating on the senior secured term loan with a recovery rating of '2' that DBI is guaranteeing. + We are revising the SACP for DBI to '##' from '##-'. + The stable outlook reflects our expectation that the company will maintain stable operating performance and modestly improve its financial metrics over the next one to two years. HONG KONG (S&P Global Ratings) Dec. 14, 2016--S&P Global Ratings today said it has affirmed its 'B+' long-term corporate credit rating on Doosan Bobcat Inc. (DBI), a Korea-based holding company in the construction equipment market. The outlook is stable. We...

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