Volkswagen: Fitch raises outlook to 'stable'
(CercleFinance.com) - Fitch has upgraded its outlook on Volkswagen to "stable" from "negative", citing greater clarity about the operational and financial effects of the dieselgate scandal.
The rating agency has confiirmed its long-term issuer default rating at "BBB+."
"Fitch acknowledges that risks of further legal actions have not disappeared but believes that these risks have become manageable at the current rating level and incorporated in the ratings," the ratings agency said.
Fitch believes that the German carmaker could accommodate several billion euros in additional fines and/or recall and repair costs and still sustain its current ratings.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The rating agency has confiirmed its long-term issuer default rating at "BBB+."
"Fitch acknowledges that risks of further legal actions have not disappeared but believes that these risks have become manageable at the current rating level and incorporated in the ratings," the ratings agency said.
Fitch believes that the German carmaker could accommodate several billion euros in additional fines and/or recall and repair costs and still sustain its current ratings.
Copyright (c) 2017 CercleFinance.com. All rights reserved.