Moody's rates Volkswagen Leasing issue A3

Moody's Investors Service said it assigned A3 and Aaa.mx backed 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 outlook is stable.

The issue will have a maturity of about four years and a floating coupon, Moody's said, and will total up to Ps.2 billion, the agency explained.

It is the first long-term issuance of certificados bursátiles under the company's long- and short-term revolving debt program, Moody's noted.

The ratings reflect the explicit guarantee from the company's parent, Volkswagen Financial Services AG, the agency said.

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