TEXT-S&P affirms Volkswagen AG ratings


(The following statement was released by the rating agency) -- Volkswagen AG (VW's) operating earnings rebounded in the first half of 2010 and, in our view, the company is well positioned to expand in emerging markets over the next few years. -- We believe VW's successful EUR4.1 billion capital increase to help finance the Porsche transaction shows its continued commitment to a conservative financial policy. -- We are affirming our 'A-/A-2' ratings on VW. -- The negative outlook ...

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