On April 29, 2021, we revised to stable from negative the outlook on German truck manufacturer TRATON SE (BBB/Stable/--), following a similar action on Volkswagen AG (BBB+/Stable/A-2). Since we view Scania as pivotal to TRATON's strategy to gradually integrate the brands it manages, we cap our rating on Scania at the level of that on its parent company TRATON. We therefore revised the outlook on Scania to stable from negative, and affirmed our 'BBB/A-2' ratings on the company. The stable outlook on Scania reflects the outlook on TRATON. The stable outlook on Scania reflects that on TRATON. We could take a positive rating action on Scania if we take a similar action on TRATON. We regard rating pressure as remote
