Fitch shifts Volkswagen view to positive

Fitch Ratings said it revised Volkswagen AG's outlook to positive from stable and affirmed its BBB+ long-term issuer default rating.

“The outlook change reflects the re-establishment of a record of better corporate governance. We do not expect the group's corporate governance practices, in particular limited board independence and complex shareholding structure, to fundamentally change in the medium term but believe that they will be manageable at a higher rating level,” Fitch said in a press release.

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