Fitch threatens to downgrade VW over pollution scandal
Volkswagen
Paris - Arab Today
Fitch Ratings threatened Wednesday to downgrade Volkswagen's credit rating over a worldwide pollution cheating scandal, placing it under review until the scale of the company's woes becomes clear.
"The rating action reflects the reputational damage on the group's brands following alleged manipulation of emission tests in the US and the expected multi-billion euros financial impact from potential fines, recall costs, lawsuits and legal claims," Fitch said in a statement.
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