Moody's assigns Daimler Truck notes A3

Moody's Investors Service said it assigned A3 ratings to the backed new senior unsecured notes to be issued by Daimler Trucks Finance North America LLC and Daimler Trucks Finance Canada Inc., both subsidiaries of Daimler Truck AG. Concurrently, Moody's affirmed the A3 long-term issuer rating of Daimler Truck.

“The new notes are backed by an unconditional and irrevocable guarantee of Daimler Truck and rank pari passu with all other senior unsecured debt of the company. The notes are therefore rated in line with Daimler Truck's A3 long-term issuer rating,” Moody’s said in a press release.

The company will use proceeds to refinance debt, predominantly at the level of its financial service business, which has a total portfolio of €21 billion planned for 2022.

The outlook is stable.

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