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S&P rates Terex notes BB-
Standard & Poor's said it affirmed the BB- corporate credit rating on Terex Corp.
S&P also said it assigned a BB- rating and 4 recovery rating to the company's proposed $300 million senior unsecured notes.
The proceeds will be used for general corporate purposes in conjunction with the domination and integration process of Demag Cranes, the agency said.
The outlook is stable.
The affirmation reflects an expectation that operating performance will continue to improve in 2012 as the economy recovers slowly, S&P said.
The company also is benefiting from its recent acquisition of 82% of the shares of Demag Cranes AG, the agency said.
The ratings reflect the company's aggressive financial risk profile and fair business risk profile, S&P said.
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