Volkswagen Bank GmbH - S&P Global Ratings’ Credit Research

Volkswagen Bank GmbH

Volkswagen Bank GmbH - S&P Global Ratings’ Credit Research
Volkswagen Bank GmbH
Published Jul 24, 2015
12 pages (4800 words) — Published Jul 24, 2015
Price US$ 500.00  |  Buy this Report Now

About This Report

  
Abstract:

Very strong capitalization and solid revenue generation ability. Stable retail deposit base. Regulated bank status. Dependence on parental sales capability. Concentration in financing related to volatile car sales. Limited geographic diversification. Standard&Poor's Ratings Services' stable outlook on Volkswagen Bank GmbH mirrors that on its ultimate parent, Volkswagen AG (VW AG). In our view, captive finance operations will remain integral to the VW group's overall corporate strategy as we consider the bank will be central to supporting group car sales throughout the economic cycle. We currently do not expect any change in the strong commitment from and integration into the VW group over the next two years. We believe that VW Bank will sustain a satisfactory financial profile, supported

  
Brief Excerpt:

... Standard & Poor's Ratings Services' stable outlook on Volkswagen Bank GmbH mirrors that on its ultimate parent, Volkswagen AG (VW AG). In our view, captive finance operations will remain integral to the VW group's overall corporate strategy as we consider the bank will be central to supporting group car sales throughout the economic cycle. We currently do not expect any change in the strong commitment from and integration into the VW group over the next two years. We believe that VW Bank will sustain a satisfactory financial profile, supported by the fragile economic recovery in most of the markets in which the group operates. As a "core" entity to VW AG, any rating action on the parent would translate into a similar action on VW Bank. We could lower the ratings on VW Bank if we saw weaker commitment from VW AG to support its subsidiaries, which could lead us to reassess our view of VW Bank as a core entity of the VW group. This could...

  
Report Type:

Full Report

Ticker
2636Z@GR
Issuer
GICS
Consumer Finance (40202010)
Sector
Global Issuers, Structured Finance
Country
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Volkswagen Bank GmbH" Jul 24, 2015. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Volkswagen-Bank-GmbH-1423547>
  
APA:
S&P Global Ratings’ Credit Research. (). Volkswagen Bank GmbH Jul 24, 2015. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Volkswagen-Bank-GmbH-1423547>
  
US$ 500.00
$  £  €
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