Fitch Downgrades VW Credit Rating Over Scandal

The rating agency Fitch has downgraded Volkswagen's credit rating by two notches. The carmaker's board met yesterday, ahead of an offer by the company to compensate U.S. VW diesel owners with $1,000 worth of gift cards and vouchers. Bloomberg's Hans Nichols reports on "Countdown." (Source: Bloomberg)

Ratings Firms Face Challenges in China
27:07 - Evergrande has a AAA rating from China's Chengxin Ratings firm while the three main foreign assessors classified it as being junk. This divergence isn't rare and as China opens up its credit rating market to foreign-owned companies, it may not be as easy as they hoped to get established in the country. Bloomberg's Andrew Monahan reports on "Bloomberg Markets: Asia." (Source: Bloomberg)
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