Oshkosh Corp., a manufacturer of specialty vehicles and vehicle bodies, recently suspended production in their Access Equipment segment in North America due to lower demand. We anticipate this segment to remain pressured, at least in the near term, and that this segment could further be affected by the spread of COVID-19. As a result, we are revising our outlook on Oshkosh to negative from stable. The negative outlook reflects our belief that operating performance will be weaker than we originally anticipated due to demand headwinds facing the Access Equipment segment. We expect this to result in weaker credit metrics and result in S&P Global Ratings-adjusted debt to EBITDA increasing above 1x. Partially offsetting the decline in the Access Equipment segment
