(The following statement was released by the rating agency) -- Commercial-vehicle demand remains very weak in North America and Europe, pressuring PACCAR's margins and free cash flow generation. -- We expect North American heavy-duty truck sales to decline 50% or more compared to 2008 sales, while European heavy-duty truck sales could decline 35% to 40%. -- We are revising our outlook on Bellevue, Wash.-based PACCAR and related entities to negative from stable, reflecting our concern ...
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