PACCAR <PCAR> AND UNIT DEBT DOWNGRADED BY S/P
Standard and Poor's Corp said it
downgraded to A-plus from AA-minus 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 PACCAR's pricing advantage in the premium,
custom-built segment of the trucking industry, which is
PACCAR's traditional market niche.
 Reuter
