Ratings

In November 2023, rating agency Standard & Poor’s confirmed its short-term and long-term ratings for Volkswagen AG, Volkswagen Financial Services AG and Volkswagen Bank GmbH at A–2 and BBB+ respectively. The outlook for all companies remains unchanged at “stable”. In September 2023, Standard & Poor’s also issued a short-term rating of A–2 for TRATON SE. In November 2023, the short- and long-term ratings for TRATON SE were confirmed at A–2 and BBB respectively with a “stable” outlook.

In July and October 2023, Moody’s Investors Service confirmed the short-term and long-term ratings for Volkswagen AG and Volkswagen Financial Services AG at P–2 and A3, respectively, and those for Volkswagen Bank GmbH at P–1 and A1. The outlook was left unchanged at “stable”. For TRATON SE, the long-term rating of Baa2 with an outlook of “stable” was confirmed in September 2023. TRATON SE was also given a short-term rating of P–2.