Oshkosh Corporation (NYSE: OSK) announced today that it has reached an agreement with its lenders for an amendment of its credit agreement. The amended $3.1 billion credit facility is effective March 9, and includes revised financial covenant ratios through the remaining life of the credit agreement.
“We believe the amendment will help provide financial flexibility as we operate our businesses during these difficult recessionary times. We have a strong foundation, a diverse product portfolio, a track record of positive cash flow and a liquidity position reinforced by the amendment,” said Robert G. Bohn, Oshkosh Corporation chairman and chief executive officer. “We will continue to concentrate on improving our leading market positions in all the industries in which we compete.”
Additional information concerning changes to the financial covenant ratios, pricing and other changes to the credit agreement, including the entire credit agreement amendment, can be found in the company’s related Form 8-K, filed today with the Securities and Exchange Commission.