Moody’s ups Doosan Bobcat, loan

Moody's Investors Service said it upgraded the corporate family rating of Doosan Bobcat Inc. to Ba3 from B1.

At the same time, the agency also upgraded the rating on the senior secured term loan borrowed by Clark Equipment Co. and guaranteed by Doosan Bobcat to Ba3 from B1.

The outlook is stable.

"The upgrade of DBI's rating reflects our expectation that its financial leverage will continue to improve over the next 1-2 years, driven by debt reductions and healthy earnings," Wan Hee Yoo, Moody's vice president and senior credit officer, said in a news release.

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