Oshkosh Corp. has maintained above par credit measures, continues to pursue a moderate financial policy, and we believe that it has enhanced its ability to withstand cyclical pressures. We are revising our outlook on the company to positive from stable and are affirming all of our ratings, including our 'BB+' corporate credit rating. The positive outlook reflects that we may raise our rating on Oshkosh if the company's adjusted debt-to-EBITDA remains below 2.5x and its funds from operations (FFO)-to-total adjusted debt ratio remains above 40%. On Feb. 3, 2017, S&P Global Ratings revised its outlook on Oshkosh Corp. to positive from stable and affirmed all of its ratings, including our 'BB+' corporate credit rating, on the company. The outlook revision
