Moody’s classes from Volkswagen

The rating agency Moody’s classifies the creditworthiness of Volkswagen worse. The rating for the long -term papers is reduced by “A3” by one level to “BaA1”, with a stable view, Moody’s said on Monday.

The downgrading reflects the recent decline in the profit margin and the cash inflow at the Wolfsburg car manufacturer, the experts justified their assessment. Tensions in world trade, the switch to emission -free vehicles, the sharp competition in China and the still necessary investments in software should burden Volkswagen’s business for the next twelve to 18 months. Moody’s had only reduced the view for his rating in October. With “BAA1” Volkswagen comes to a worse rating as a BMW and Mercedes-Benz, both of which are rated “A2” and thus two stages. According to the downgrading, VW belongs, which is referred to as the “Lower Medium Grade” and, according to definition, is an “average good system”, which is to be expected due to deterioration in the overall economy. However, it is still three stages above the level, from which loans are classified as speculative, in which failures are to be expected when the situation is deteriorated. Nevertheless, a worse rating usually leads to higher interest rates when recording new debts and makes financing more expensive.

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