Carl Icahn has offered to buy all the outstanding shares of specialty vehicle manufacturer Oshkosh Corp. for $32.50 per share. We are placing our ratings on Oshkosh, including the 'BB' corporate credit rating, on CreditWatch with negative implications. We will resolve the CreditWatch listing when more information regarding the proposed transaction becomes available. We will then assess Oshkosh's financial policy and the impact of any potential transaction on its capital structure. On Oct. 12, 2012, Standard&Poor's Ratings Services placed its ratings on Oshkosh, Wis.-based Oshkosh Corp., including the 'BB' corporate credit rating, on CreditWatch with negative implications. The CreditWatch placement reflects uncertainty regarding the leverage profile for Oshkosh and its strategic direction following reports that the company has
