Arab Today, arab today moodys cuts vws credit rating amid emissions scandal
Last Updated : GMT 15:29:37
Arab Today, arab today
Arab Today, arab today

Moody's cuts VW's credit rating amid emissions scandal

Arab Today, arab today

Arab Today, arab today Moody's cuts VW's credit rating amid emissions scandal

The logo of German car maker Volkswagen
Washington - AFP

Moody's hit embattled German automaker Volkswagen with a credit downgrade Wednesday, saying the company's reputation and earnings were at risk from the growing emissions cheating scandal.

Moody's cut the company's rating by one step to A3, warning that expanded allegations on emissions cheating and admissions that it falsified fuel consumption "pose additional risk to Volkswagen's reputation, future sales and cash" and also "suggest serious internal control and governance issues.

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