Amadeusz Juskowiak

Paccar pcar and unit debt downgraded by sp

Standard and Poors Corp said it downgraded to Aplus from AAminus about 350 mln dlrs of senior debt of PACCAR Inc and its unit PACCAR Financial Corp

S and P said PACCAR has experienced earnings weakness But the company remains profitable and should achieve significant cost reductions from its recent shut down of two assembly plants S and P noted

The rating agency pointed out that price discounting has eroded some of PACCARs pricing advantage in the premium custombuilt segment of the trucking industry which is PACCARs traditional market niche