NEW YORK (S&P Global Ratings) May 3, 2018--S&P Global Ratings today assigned its 'BBB' issue-level rating to Wisconsin-based Oshkosh Corp.'s proposed $300 million senior unsecured notes due 2028. The notes will rank equally with all of the company's existing unsecured debt. We view the proposed transaction as leverage neutral because the company will use the proceeds from these notes primarily to redeem all of its ($250 million principal amount outstanding) 5.375% senior notes due March 1, 2022, and pay related fees and expenses. Oshkosh will use any remaining proceeds for general corporate purposes. For the complete corporate rationale, please see our most recent research update on Oshkosh, published Jan. 19, 2018, on RatingsDirect. RELATED CRITERIA Criteria - Corporates - General:
