VW Widens Finance Edge After Fiat, Peugeot Downgrade by Moody’s
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Volkswagen AG widened its auto financing edge in Europe after Moody’s Investors Service lowered the debt ratings on Fiat SpA and PSA Peugeot Citroen to six levels below the region’s biggest carmaker.
Fiat and Peugeot both were cut one level to Ba3 from Ba2, Moody’s said today. The ratings service, which rates VW at A3, has a “negative” outlook on the Italian and French companies and said Peugeot’s financing arm Banque PSA Finance is on review for a downgrade.