Moody's affirms VW Financial Services AG's A2 long-term debt ratings and VW Bank GmbH's Aa3 long-term debt and deposit ratings; negative outlook now also incorporates reorganisation risks
Reorganisation could result in multi-notch downgrade for VW Bank GmbH's debt ratings from increased loss-given-failure, if executed. Frankfurt am Main, November 08, 2016-- Moody's Investors Service today affirmed the A2 long-term debt ratings of Volkswagen Financial Services AG and of its guaranteed subsidiaries. At the same time, the rating agency affirmed the Aa3 long-term debt and deposit ratings of Volkswagen Bank GmbH.
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