Moody's cuts Daimler view to stable

Moody's Investors Service said it affirmed the A3 long-term and prime-2 short-term ratings of Daimler AG and its subsidiaries and changed the outlook to stable from positive.

The outlook change to stable from positive reflects the increasingly worsening global car and truck markets that are likely to persist in 2009, Moody's said, and expected to negatively impact the operating performance of the company. Based on these revised expectations, a ratings upgrade within the next 12 to 18 months is unlikely, the agency said.

Since Moody's assigned the positive outlook on Daimler's ratings 12 months ago, the development and outlook for the automotive markets, especially in North America and Western Europe worsened rapidly, Moody's said.

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