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Main » 2015 » November » 10 » Fitch Ratings downgraded rating of Volkswagen
Fitch Ratings downgraded rating of Volkswagen

On Monday, Fitch Ratings announced that lowers the assessment of debt Volkswagen Group to the level "BBB +" with the previous mark «A». The decision of the rating agency due to problems within the company because of the scandal known underreporting emissions.



Long-term default rating of Volkswagen was reduced to the level of "BBB +". Short-term issuer default rating was lowered one notch to the «F1» to the «F2». It should be noted that the outlook for the long-term issuer default rating is "negative."

In a press release from the agency notes that this decision is due to the very scandal and the consequences of the scandal, namely the company must withdraw the huge number of cars with violations to pay huge fines and satisfy the claims of the world, as the company has already lost some sales as consumers I do not want to buy a "scandalous" products. Revenues are substantially reduced, the share price falls, as in the case of the automaker periodically pop up new facts that continue to adversely affect the reputation of Volkswagen.

Earlier in October, Standard and Poor's lowered the rating of Volkswagen with the "A" to "A-". 

A source

According to the materials WELTRADE


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