S&P ups Bucyrus

Standard & Poor's said it raised its corporate credit rating on Bucyrus International Inc. to BB from BB-.

At the same time, the agency said it raised the rating on the company's credit facilities by one notch to BB, the same as the corporate credit rating while the recovery rating on this debt remains unchanged at 3.

The outlook is positive.

The agency said that the upgrade reflects the company's successful ongoing integration of the May 2007 acquisition of DBT GmbH and its solid operating performance since the acquisition, adding that the rating on Bucyrus reflects the company's position in the niche market for surface mining and underground mining equipment manufacturing.

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