Moody's lifts Paccar to stable

Moody's Investors Service said it affirmed Paccar Inc.'s A1 long-term and prime-1 short-term ratings.

The outlook was changed to stable from negative.

The agency also said it affirmed the A1 long-term and prime-1 short-term ratings of Paccar's financial service subsidiaries that benefit from a support agreement: Paccar Financial Corp., Paccar Financial Europe BV and Paccar Financial plc.

The outlook for the financial services operations also is stable.

The ratings reflect an expectation that Paccar will maintain its highly competitive position in the global medium- and heavy-duty truck markets, Moody's said, and that truck demand in the company's key markets will continue to grow through 2012.

The ratings also consider that Paccar will maintain ample operating and financial flexibility to contend with the long-term cyclicality inherent within the sector, the agency said.

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