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Fitch cuts Volkswagen's rating over emissions scandal

Tuesday, November 10, 2015 - 00:21

[BERLIN] Fitch ratings agency on Monday cut Volkswagen's credit rating by two notches, saying that a widening pollution cheating scandal has exposed weak corporate governance in the German auto giant.

"The downgrade to 'BBB+' reflects the corporate governance, management and organisational issues highlighted by the ongoing emission test crisis," said Fitch in a statement.

AFP