Volkswagen AG: Rating Report

On July 24, 2023, DBRS Limited (DBRS Morningstar) confirmed Volkswagen AG’s (VW or the Company) Issuer Rating at A (low) with a Stable trend. DBRS Morningstar also confirmed the Senior Unsecured Debt and Commercial Paper ratings of VW Credit Canada, Inc. at A (low) and R-1 (low), respectively, both with Stable trends.