Moody's rates VW Leasing notes A3/Aaa.mx

Moody's de Mexico said it assigned an Aaa.mx long-term Mexican national scale senior debt rating to Volkswagen Leasing, SA de CV's proposed Ps.$2.5 billion certificados bursatiles due 2016.

At the same time, Moody's Investors Service assigned an A3 long-term global local currency senior debt rating to these notes.

Moody's said the ratings on VW Leasing's debt are based on an unconditional and irrevocable guarantee from the parent entity Volkswagen Financial Services AG rated A3 long-term with positive outlook and Prime-2 short-term, on Moody's global scale.

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