S&P gives Paccar notes A+

S&P said it assigned its A+ issue-level rating to Paccar Financial Pty. Ltd.'s issuance of A$150 million 3% medium-term notes due 2022.

The issue-level rating on the notes is the same as the issuer credit rating on Paccar Financial, which is unchanged.

The agency said the rating continues to reflect the company’s status as a core financing subsidiary of parent, Paccar Inc. (A+/stable/A-1).

The rating on Paccar reflects the company's solid position as a premium truck maker and its conservative financial policies, S&P said.

“Paccar has continued to enjoy operating success, with a strong and stable performance since 2011,” the agency said in a news release.

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