TEXT-S&P affirms Scania 'A-' L-T rating; offwatch; outlook neg

Newswire

(The following statement was released by the ratings agency) Aug 31 -- We currently consider that the restructurings at Volkswagen (VW) are unlikely to have an adverse impact on the business risk and financial risk of its subsidiary Scania. -- We are affirming the 'A-' long-term rating on Scania and removing it from CreditWatch. -- Given VW's 71% voting stake in Scania, we apply our parent-subsidiary criteria and cap the rating on Scania at the rating level of VW. -- The outlook is ...

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