Mexico, November 06, 2015 -- Moody's de México downgraded Volkswagen Bank, S.A. (VW Bank Mexico) and Volkswagen Leasing, S.A. de C.V.'s (VW Leasing Mexico) long-term global local currency (GLC) senior unsecured debt ratings to A1 from Aa3. Moody's also downgraded both issuers' provisional long-term GLC senior unsecured MTN program ratings to (P)A1 from (P)Aa3 and affirmed VW Leasing Mexico's (P)Prime-1 short-term GLC senior MTN program rating. The outlook on the bank's and leasing company's long-term debt ratings remains negative.
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