S&P rates Daimler Truck BBB+

S&P said it gave BBB+ ratings to Daimler Truck Holding AG and its subsidiary Daimler Truck AG and BBB+ ratings to its unsecured notes sold through subsidiaries Daimler Trucks Finance Canada Inc. and Daimler Trucks Finance North America LLC.

“DT is a global diversified player with prominent market shares in the U.S. and focuses on improving its market reach in Europe, the Middle East, and Africa. It is the biggest truck original equipment manufacturer (OEM) globally in terms of sales (€36 billion at end-2020, down from €46.2 billion in 2019 on reported consolidated basis). The group manages seven truck and bus brands, the widest brand pool we rate,” S&P said in a press release.

The outlook is stable, reflecting a forecast that DT will deliver an adjusted EBITDA margin above 8% in 2022-2023.

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