Summary: Doosan Bobcat Inc.

Good position in the North American compact construction equipment market Industry volatility due to cyclical demand High dependence on compact size construction equipment products Stable operating performance over the next 12 months Adjusted debt to EBITDA of about 3.0x-3.8x over the next two years Positive free operating cash flows over the next two years owing to moderate capital spending Potential high volatility in cash flows and financial ratios The stable outlook on Doosan Bobcat Inc. (DBI), a Korea-based holding company in the construction equipment market, reflects S&P Global Ratings' expectation that the company will maintain stable operating performance and modestly improve its financial metrics over the next one to two years thanks to its well-established market position and good cash

...Outlook: Stable The stable outlook on Doosan Bobcat Inc. (DBI), a Korea-based holding company in the construction equipment market, reflects S&P Global Ratings' expectation that the company will maintain stable operating performance and modestly improve its financial metrics over the next one to two years thanks to its well-established market position and good cash flows. The stable outlook on DBI also reflects our expectation that the parent Doosan Infracore Co. Ltd. (DI) group is unlikely to see significant weakening of its liquidity over the next 12 months....

Summary