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Moody's rates Volkswagen certificados A3
Moody’s Investors Service said it assigned a backed long-term global local currency senior unsecured debt rating of A3 and a backed Mexican national scale local-currency senior unsecured debt rating of Aaa.mx to the planned certificados bursatiles (VWLease 21-2) to be issued by Volkswagen Leasing, S.A. de CV.
The local-currency floating-coupon notes will amount up to Ps. 2 billion with a tenor of 3.2 years, due in 2024.
“The ratings reflect an explicit guarantee from the company's parent, Volkswagen Financial Services AG (VW FS AG, A3 stable),” Moody’s said in a press release.
The outlook is stable.
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