Moody's: Terex outlook stable

Moody's Investors Service said it affirmed Terex Corp.'s corporate family and probability-of-default ratings at B2. Terex's speculative grade liquidity rating is SGL-3.

The outlook was changed to stable.

The actions result from the company's recent announcement that it amended its bank credit facility and will be accessing the capital markets for about $600 million, according to the agency.

Terex's B2 corporate family rating reflects its fundamental business position as a manufacturer of heavy equipment for the mining, construction, infrastructure and energy markets, the agency said.

Ratings also incorporate expectation that Terex will be successful in accessing the capital markets under the terms and for the amounts as announced, the agency noted.

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