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Ratings On Oshkosh Corp.'s Senior Secured Debt Issues Raised To 'BB' (Recovery Rating: 1)

Published Mar 03, 2010

905 words — Published Mar 03, 2010

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Abstract:

NEW YORK (Standard&Poor's) March 3, 2010--Standard&Poor's Ratings Services today revised its recovery rating on Oshkosh Corp.'s senior secured debt issues to '1', indicating our expectation of very high (90%-100%) recovery for lenders in a payment default scenario, from '2'. In addition, we raised our issue-level rating on these securities to 'BB' (two notches higher than the 'B+' corporate credit rating) from 'BB-', in accordance with our notching criteria for a '1' recovery rating. We also removed the issue-level ratings on Oshkosh's senior secured debt issues from CreditWatch, where we placed them with positive implications on Feb. 23, 2010. (For the complete recovery analysis, see Standard&Poor's recovery report on Oshkosh, to be published following this

Brief Excerpt:

RESEARCH Ratings On Oshkosh Corp.'s Senior Secured Debt Issues Raised To '##' (Recovery Rating: 1) Publication date: 03-Mar-2010 Primary Credit Analyst: Dan Picciotto, CFA, New York (1) 212-438-7894; dan_picciotto@standardandpoors.com...

Report Type:

Ratings Action

Ticker

OSK

Issuer

Oshkosh Corp.

GICS

Construction & Farm Machinery & Heavy Trucks (20106010)

Sector

Global Issuers

Country

United States

Region

United States

Format:

HTML

Oshkosh Corp. – 2010/03/10 – US$ 500.00

Summary: Oshkosh Corp. – 2010/03/10 – US$ 225.00

Oshkosh Corp. Ratings Raised On Good Operating Performance; Outlook Positive – 2010/08/11 – US$ 150.00

Research Update: Ratings On Oshkosh Corp. Are Raised On Good Operating Performance; Outlook Positive – 2010/08/11 – US$ 225.00

Oshkosh Corp. – 2010/08/19 – US$ 500.00

Oshkosh Corp.'s $500M Notes Offering Is Rated 'B-' (Recovery Rating: 6); Senior Secured Debt Issues On Watch Positive – 2010/02/23 – US$ 150.00

Research Update: Oshkosh Corp.'s $500 Mil. Notes Offering Rated 'B-' (Recovery Rtg: 6); Senior Secured Debt Issues On Watch Positive – 2010/02/23 – US$ 225.00

Oshkosh Corp. – 2010/02/10 – US$ 500.00

Summary: Oshkosh Corp. – 2010/02/10 – US$ 225.00

Ratings On Oshkosh Affirmed; Outlook Revised To Positive Re: Improved Credit Measures – 2010/01/29 – US$ 150.00

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MLA:	S&P Global Ratings’ Credit Research. "Ratings On Oshkosh Corp.'s Senior Secured Debt Issues Raised To 'BB' (Recovery Rating: 1)" Mar 03, 2010. Alacra Store. May 23, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Ratings-On-Oshkosh-Corp-s-Senior-Secured-Debt-Issues-Raised-To-BB-Recovery-Rating-1-779324>

APA:	S&P Global Ratings’ Credit Research. (). Ratings On Oshkosh Corp.'s Senior Secured Debt Issues Raised To 'BB' (Recovery Rating: 1) Mar 03, 2010. New York, NY: Alacra Store. Retrieved May 23, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Ratings-On-Oshkosh-Corp-s-Senior-Secured-Debt-Issues-Raised-To-BB-Recovery-Rating-1-779324>

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