DBRS pulls Volkswagen from review

DBRS said it removed Volkswagen AG’s ratings from under review with negative implications and confirmed the company’s issuer rating at A (low). Concurrently, DBRS confirmed the senior unsecured debt of Volkswagen Credit Canada Inc. at A (low)

DBRS said it forecasts Volkswagen’s financial risk assessment will remain at levels commensurate with the current ratings despite an expected softening of VW’s credit metrics given the global escalation from the pandemic.

The trend is negative, “With this rating action, VW’s ratings are removed from under review with negative implications, where they were placed on March 27, 2020,” DBRS said.

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