TEXT-S&P cuts PACCAR long-term corp credit rating

Newswire

(The following statement was released by the rating agency) -- Bellevue, Wash.-based commercial-truck maker PACCAR's profitability remains below historical levels because of the multiyear downturn in heavy-truck demand. -- Truck segment margin has improved in recent quarters, and we expect further progress as the industry recovers; however, we are uncertain whether the company will be able to reestablish and maintain profitability consistent with the previous rating. -- We are lowering ...

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