Oshkosh Corp. announced that it has commenced a 13 million share common stock offering, and will use the proceeds to repay term loan borrowings. We are placing our ratings on the Oshkosh, Wis.-based specialty vehicle manufacturer on CreditWatch with positive implications. We intend to resolve the CreditWatch listing after the company completes the common stock offering, through a review of the capital structure and operating prospects for the company. On Aug. 6, 2009, Standard&Poor's Ratings Services placed its ratings, including the 'B' corporate credit rating, on Oshkosh Corp. on CreditWatch with positive implications. The CreditWatch placement follows the company's announcement that it has commenced a 13 million share common stock offering, and plans to use the proceeds to
