S&P ups JLG Industries

Standard & Poor's said it raised its ratings on JLG Industries Inc., including the corporate credit rating to BB from BB-. Meanwhile, the unsecured debt rating was raised to BB from B+, a two-notch upgrade that reflects the improved position of the unsecured notes in the capital structure.

The outlook is stable.

The rating reflects the company's improved operating performance and better credit profile, stemming from the cyclical upturn in JLG's end markets and the company's demonstration of disciplined financial policies, S&P said.

The ratings also reflect the company's weak business risk profile and aggressive financial profile as a manufacturer of access and material handling equipment for the cyclical construction equipment and rental markets, S&P said.

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