Moody's affirms Paccar

Moody's Investors Service said it affirmed the A1 long-term and Prime-1 short-term ratings of Paccar Inc., Paccar Financial Corp. and Paccar Financial Europe BV, and also assigned an A1 long-term and Prime-1 short-term rating to Paccar Financial plc.

The outlook for the A1 long-term ratings was changed to negative from stable, the agency said, noting that these actions do not affect the ratings of Paccar Mexico SA de CV.

The negative outlook reflects the challenges that Paccar will face in responding to the severe downturn in North American and European truck demand, and in restoring credit metrics that are more supportive of the A1 rating, the agency added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.