U.S.-based Oshkosh Corp. has reduced funded debt balances and operating performance has been good, benefiting from large orders in its defense segment. We are raising our ratings on the company, including the corporate credit rating, to 'BB-' from 'B+'. We are also raising the rating on the company's $500 million senior unsecured debt to 'B+' from 'B-' and raising the rating on the company's $2.6 billion (original amount) term loan and $500 million revolving credit facility to 'BB+' from 'BB'. The outlook is positive. On Aug. 11, 2010, Standard&Poor's Ratings Services raised its ratings on Wisconsin-based Oshkosh Corp., including the corporate credit rating, to 'BB–' from 'B+'. We also raised the rating on the company's $500 million senior
