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Moody’s affirms its long-term A3 stable rating on Volkswagen
- Moody’s affirmed Volkswagen’s long-term issuer rating of A3 with a stable outlook.
- The ratings are expected to remain weakly positioned for the next 12-18 months.
- Moody expects Volkswagen’s revenue to grow by 1-2% in 2024 since key models from Porsche and Audi have been delayed towards the end of the year.
- It projects proportionate share of operating result from equity-accounted investments in China to come in at 1.5 billion euros in 2024 and 2025 down from 2.6 billion euros in 2023.
- It forecasts EBITA margin of 6.5% and 7.0% in 2024 and 2025, respectively.
Moody’s Ratings affirms Volkswagen A3/P-2 ratings, outlook stable