On Nov. 8, 2006, Standard&Poor's Ratings Services assigned its 'BB' corporate credit rating to Oshkosh, Wis.-based Oshkosh Truck Corp. At the same time, Standard&Poor's assigned its bank loan and recovery ratings to the company's proposed $3.5 billion senior secured credit facilities. The facilities are rated 'BB' (the same as the corporate credit rating) with a recovery rating of '2', indicating expectation of substantial recovery of principal (80%-100%) in the event of a default. The ratings on Oshkosh reflect the company's aggressive financial profile, which more than offsets the company's leading business positions in key segments of the specialty vehicle market, and satisfactory product and end market diversity. Oshkosh is a leading designer, manufacturer, and marketer of
