DBRS: Volkswagen to stable

DBRS said it confirmed the long- and short-term ratings of Volkswagen AG and VW Credit Canada Inc. at BBB (high) and R-2 (high), respectively.

Concurrently, the agency discontinued the senior unsecured debt and commercial paper ratings of Volkswagen Canada at the request of the company.

The trends have been changed to stable from negative, in part because DBRS recognizes that VW has made considerable progress with respect to the diesel issue, particularly in the United States where the company has reached settlements with various legal and regulatory authorities and reached agreements concerning vehicle buybacks and owner compensation.

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