Moody's assigns Baa3 rating to Oshkosh Corporation's $300 mm sr unsec notes due 2030
Rating Action: Moody's assigns Baa3 rating to Oshkosh Corporation's $300 mm sr unsec notes due 2030. Global Credit Research- 11 Feb 2020. New York, February 11, 2020-- Moody's Investors Service assigned a Baa3 rating to Oshkosh Corporation's planned $300 million senior unsecured notes offering due 2030. Proceeds will be used to redeem Oshkosh's $250 million 5.375% senior unsecured notes due 2025, with the remainder to be used for general corporate purposes.Oshkosh is a designer, manufacturer and marketer of access equipment, specialty vehicles and truck bodies for the primary markets of access equipment, defense, fire and emergency and municipal, refuse hauling, concrete placement as well as airport services. The company's segments are: access equipment, which designs and manufactures aerial work platforms and telehandlers; defense, which designs and manufactures tactical wheeled vehicles and related service; fire and emergency, which designs and manufactures fire apparatus assembled on custom chassis; and commercial, which designs and manufactures front- and rear-discharge concrete mixers and portable and stationary concrete batch plants.
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