Moody's rates Volkswagen Bank issues A3

Moody's Investors Service said it assigned an A3 and Aaa.mx backed long-term global local-currency and Mexican National Scale senior unsecured debt ratings to Volkswagen Bank, SA, Institución de Banca Múltiple (Volkswagen Bank, SA)'s proposed issuance of certificados bursátiles bancarios.

The outlook is stable.

The bank's issue will total up to Ps. 1 billion with a maturity of about four years and a floating coupon, Moody's said.

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

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