TEXT-S&P revises Volkswagen's outlook to negative


(The following statement was released by the ratings agency) LONDON, Feb 19 - Standard & Poor's Ratings Services said today it revised its outlook on Germany-based carmaker Volkswagen AG (VW) to negative from stable, owing to the group's lower-than-expected 2003 earnings. The outlooks on VW's related entities, including Volkswagen Financial Services AG (VW FS) and Volkswagen Bank GmbH (VW Bank), were also revised to negative from stable. At the same time, Standard & Poor's ...

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