Volkswagen International Luxemburg S.A -- Moody's confirms VW's A3 ratings; Outlook negative

Moody's Investors Service, ("Moody's") confirmed the A3 long term issuer rating of Volkswagen Aktiengesellschaft (VW), the group's P-2 short term rating and the Baa2 rating on the group's hybrid instruments. The outlook on all ratings changed to negative from ratings under review. A full list of affected ratings can be found at the end of this press release.