Oshkosh Corp. completed a common stock offering and used the proceeds to repay term-loan borrowings. We are raising our rating on the specialty vehicle manufacturer to 'B+' from 'B'. In addition, we are removing the ratings from CreditWatch with positive implications, where we had placed them on Aug. 6, 2009. The outlook is stable, as the company benefits from improved covenant headroom and good near-term prospects for its defense segment. On Aug. 13, 2009, Standard&Poor's Ratings Services raised its long-term corporate credit rating on Oshkosh Corp. to 'B+' from 'B'. We removed the ratings from CreditWatch, where we had placed them with positive implications on Aug. 6, 2009. The outlook is stable. The upgrade follows the company's completion
