VW’s €3bn hybrid blowout supports ratings

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VW’s €3bn hybrid blowout supports ratings

Green VW Beetle
jeffland - stock.adobe.com

Volkswagen, the German car company, has waited a long time before issuing any euro bonds from its industrial arm since the Covid-19 crisis began, but on Wednesday it broke its silence — and surprisingly, with a hybrid deal. VW has gone beyond refinancing an old hybrid and added ballast to its balance sheet, helping its ratings, which are on negative outlooks.

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