Moody’s alters Volkswagen units view to negative

Moody’s Investors Service said it revised the outlook for Volkswagen Bank SA and Volkswagen Leasing SA de CV to negative from under review.

Moody’s also confirmed the companies’ backed long-term global local currency senior unsecured debt ratings of A3 and backed long-term Mexican national scale senior unsecured debt ratings of Aaa.mx ratings. All other ratings are unchanged.

Both companies are units of Volkswagen AG, which backs their debt.

For its own reasons, Moody’s said it withdrew its ratings on Volkswagen Leasing.

The revision in outlooks and rating confirmations follow a similar action by the agency on parent Volkswagen, Moody’s said.

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