Moody's: Volkswagen notes A3

Moody's Investors Service said it assigned a long-term global local-currency debt rating of A3 with positive outlook to Volkswagen Bank, SA's issuance of certificados bursatiles bancarios established for an amount up to Ps. 1 billion.

The agency also assigned an Aaa.mx Mexican national scale debt rating with stable outlook to the issuance.

These notes represent the first take-down under the bank's proposed senior debt program, which is guaranteed by its parent company, Volkswagen Financial Services AG.

The ratings are based on an irrevocable and unconditional guarantee provided by Volkswagen Financial and reflect the guarantor's financial strength., Moody's said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.