Moody’s: Volkswagen Leasing debt A2/Aaa.mx

Moody's de Mexico said it assigned A2 and Aaa.mx long term global local currency and Mexican national scale senior unsecured debt ratings to Volkswagen Leasing, SA de CV's new issuance of certificados bursátiles.

The certificados bursátiles, which will be issued in an amount of up to Ps. 2 billion (about $105 million) and with a maturity of up to four years, will be issued under VW Leasing Mexico's existing Ps. 20 billion program.

Moody’s said the ratings are based on an unconditional and irrevocable guarantee from the company's parent entity, Volkswagen Financial Services AG (A2 negative). The negative outlook on VW Leasing Mexico's global scale ratings mirrors the negative outlook on Volkswagen Financial.

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