Doosan Infracore Bobcat Holdings Affirmed At 'B+'; Outlook Stable; SACP Revised To 'bb-' From 'b+'

We expect DIBH will modestly improve its financial metrics over the next one to two years mainly due to steady growth in demand in the U.S. construction equipment market and ongoing cost reductions. We are affirming our 'B+' long-term corporate credit rating on DIBH. We are also affirming our 'BB-' issue rating on the senior secured term loan with a recovery rating of '2' that DIBH is guaranteeing. We are revising the SACP for DIBH to 'bb-' from 'b+'. The stable outlook reflects our expectation that the company will maintain stable operating performance and modestly improve its financial metrics thanks to its well-established market position. HONG KONG (Standard&Poor's) April 30, 2015--Standard&Poor's Ratings Services today said that

...+ We expect DIBH will modestly improve its financial metrics over the next one to two years mainly due to steady growth in demand in the U.S. construction equipment market and ongoing cost reductions. + We are affirming our 'B+' long-term corporate credit rating on DIBH. We are also affirming our '##-' issue rating on the senior secured term loan with a recovery rating of '2' that DIBH is guaranteeing. + We are revising the SACP for DIBH to '##-' from 'b+'. + The stable outlook reflects our expectation that the company will maintain stable operating performance and modestly improve its financial metrics thanks to its well-established market position. HONG KONG (Standard & Poor's) April 30, 2015--Standard & Poor's Ratings Services today said that it has affirmed its 'B+' long-term corporate credit rating on Korea-based Doosan Infracore Bobcat Holdings Co. Ltd. (DIBH). The outlook is stable. We also affirmed our '##-' issue rating with '2' recovery rating on the $1.2 billion senior secured...

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