...+ On Dec. 18, 2015, Scania announced a Swedish krona (SEK) 9.6 billion payment to its owner Volkswagen AG (VW) representing three years of dividends, and we cannot rule out further distributions. + In our view, the dividend indicates a more aggressive financial policy, leading us to revise our assessment of Scania's stand-alone credit profile to '###+' from 'a-'. + We are, however, affirming our '###+/A-2' ratings on Scania. + The negative outlook reflects that on VW, indicating that we would downgrade Scania if we took the same action on VW. STOCKHOLM (Standard & Poor's) Dec. 22, 2015--Standard & Poor's Ratings Services said today that it had affirmed its '###+/A-2' long- and short-term corporate credit ratings on Sweden-based heavy truck manufacturer Scania AB (publ.). The outlook remains negative. At the same time, we affirmed our 'K-1' short-term Nordic regional scale rating and 'zaAAA/zaA-1' long- and short-term South Africa national scale ratings on Scania. The affirmation follows...
