TEXT-Fitch:No impact on Volvo's ratings from Dongfeng Commercial Vehicles joint venture

Newswire

(The following statement was released by the rating agency) Jan 29 - Fitch Ratings says that there is no immediate impact on AB Volvo's ('BBB'/Stable/'F2') ratings from its RMB5.6bn (EUR670m or SEK5.8bn) debt-funded acquisition of 45% of Dongfeng Commercial Vehicles (DFCV). We believe that the negative immediate impact on Volvo's key credit metrics will be offset by the medium to long term benefits from a business and industrial standpoint. Volvo's business ...

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