S&P: Terex on positive watch

Standard & Poor's said it placed its ratings on Terex Corp., including its BB- corporate credit rating on CreditWatch with positive implications.

The agency said that this action follows the filing of the company's first quarter Form 10Q and Terex's current status on all of its regulatory fillings and reflects the company's improved operating performance and debt reduction plans.

The B-1 short-term rating was not placed on CreditWatch, S&P added.

According to the agency, Terex has just become current on all of its filings with the SEC following an extended period of internal review and restatements of its financials.

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