Leading positions within niche market sectors; and Satisfactory customer and industry diversity. Acquisitive strategy; Exposure to the cyclical construction and commercial refuse markets; and Highly leveraged financial risk profile. The ratings on Oshkosh, Wis.-based Oshkosh Corp. reflect the company's highly leveraged financial profile, which more than offsets its leading business positions in key segments of the specialty vehicle market and good product and end-market diversity. Oshkosh is a leading designer, manufacturer, and marketer of a broad range of specialty commercial, fire and emergency, and military vehicles. The company maintains leadership positions in heavy-duty rescue vehicles, severe-duty tactical trucks, custom and commercial pumpers, severe-duty plow and snow removal vehicles, concrete mixers, refuse truck bodies, and tow trucks. It is also the
