Standard & Poor's: Confirmed Volkswagen Group's long-term issuer credit rating of "BBB+" with a revised outlook to "Negative"

On December 17, Standard & Poor's revised the outlook for Volkswagen Group from stable to negative and confirmed its long-term and short-term issuer credit ratings of "BBB+/A-2", its senior unsecured debt rating of "BBB+", and its hybrid instruments rating of "BBB-". Due to the change in outlook for the group, Standard & Poor's also revised the outlook for TRATON SE, Volkswagen Financial Services AG (also known as "Volkswagen Financial Services"), and Volkswagen Financial Services Overseas AG from stable to negative.