Swedish truck and bus maker Scania (publ.) is now fully owned by German auto manufacturer Volkswagen AG. We are changing Scania's group status to "highly strategic" from "strategically important." We are revising the outlook on Scania to stable from positive, and are affirming our 'A-/A-2' ratings. The stable outlook reflects our view that Scania will continue to be a "highly strategic" entity of Volkswagen. On Sept. 22, 2014, Standard&Poor's Ratings Services revised its outlook to stable from positive on Sweden-based truck and bus manufacturer Scania (publ.) AB. At the same time, we affirmed our 'A-' long-term and 'A-2' short-term corporate credit ratings. We also affirmed the 'zaAA+' long-term and 'zaA-1' short-term South Africa national scale ratings and the
