VW Board Meets After Employees Flagged Latest Emissions Faults
- Fitch Ratings downgrades carmaker, citing corporate governance
- Board meeting to decide next steps in emissions scandal
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Volkswagen AG will need to perform significant engine repairs on 540,000 cars in Germany, highlighting the complicated task the company faces as its top executives met after disclosing further emissions irregularities last week.
The recall is still planned to start by early next year, the Federal Motor Transport Authority said Monday. Fitch Ratings downgraded the carmaker’s credit rating to BBB+ from A, saying the cut reflects “corporate governance, management and internal control issues.”