DBRS Assigns A (low) Rating to New VW Credit Canada Issue

DBRS has today assigned a provisional rating of A (low) with a Stable trend to the planned Senior Unsecured Notes (the Notes) to be issued by VW Credit Canada, Inc. (VW Credit Canada) on November 16, 2010.

The three-year Notes will have an aggregate principal amount of $550 million and mature on November 18, 2013.

The Notes are to be unconditionally guaranteed by Volkswagen AG and will rank pari passu with all other senior unsecured obligations of VW Credit Canada.

Note:
All figures are in Canadian dollars unless otherwise noted.

The applicable methodology is Rating Automotive, which can be found on our website under Methodologies.