(IN BRIEF) The Volkswagen Group, with annual financing requirements of approximately €20 billion, is a regular participant in the international bond markets. To provide greater transparency to investors, Volkswagen AG and Volkswagen Financial Services AG have decided to engage Fitch Ratings, alongside S&P Global Ratings and Moody’s, to regularly evaluate the company’s creditworthiness and the bonds it issues. Fitch Ratings has assigned both Volkswagen AG and Volkswagen Financial Services AG a credit rating of A- with a stable outlook, signifying the highest creditworthiness category in the A range. This rating applies to issues in various currencies, with unsecured bonds rated A-, hybrid bonds at BBB, and commercial paper at F1. The move aims to bolster the Group’s financial transparency for investors and reinforces its solid financial standing.
(PRESS RELEASE) WOLFSBURG, 2-Feb-2024 — /EuropaWire/ — The Volkswagen Group is regularly active on the international bond markets with annual financing requirements of around €20 billion. Volkswagen AG and Volkswagen Financial Services AG issue a large proportion of the Group’s bonds via their respective financing subsidiaries and have decided to commission Fitch Ratings, in addition to S&P Global Ratings and Moody’s, to regularly assess the creditworthiness of the company and the bonds issued.
Chief Financial Officer Arno Antlitz. “Our solid financial figures and our creditworthiness will become even more transparent for our investors thanks to a third rating. I am convinced of this.” Fitch rates both the corporate credit risk of Volkswagen AG and Volkswagen Financial Services AG at A- with a stable outlook. This puts the rating in the highest creditworthiness category, the A range. The rating also includes issues in all relevant currencies. Unsecured bonds are currently rated A-, hybrid bonds BBB and commercial paper F1.
Christopher Hauss
Corporate Communications Head of Strategy & Finance Communications
+49 (0) 171 8769 225
christopher.hauss@volkswagen.de
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First published in this link of EuropaWIRE.
