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

DBRS has today assigned a rating of A (low) with a Positive trend to both the two-year and five-year Senior Unsecured Notes (collectively, the Notes) issued by VW Credit Canada Inc. (VW Credit Canada).

The two-year floating-rate Notes have an aggregate principal amount of $125 million and mature on August 19, 2015, while the five-year fixed-rate (2.80%) Notes have an aggregate principal amount of $325 million and mature on August 20, 2018.

The Notes are unconditionally guaranteed by Volkswagen AG and 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 Companies in the Automotive Manufacturing Industry, which can be found on our website under Methodologies.