Volkswagen AG: Rating Report

On August 10, 2021, DBRS Limited (DBRS Morningstar) changed the trend on Volkswagen AG’s Issuer Rating to Stable from Negative and confirmed its rating at A (low). DBRS Morningstar also changed the trends on the Senior Unsecured Debt and Commercial Paper ratings of VW Credit Canada, Inc. to Stable from Negative while confirming their ratings at A (low) and R-1 (low), respectively.