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Volkswagen Finans Sverige AB Apr 11 Product Image

Volkswagen Finans Sverige AB Apr 11

  • Published: April 2011
  • Region: Sweden
  • Standard & Poors

FEATURED COMPANIES

  • Volkswagen AG
  • Volkswagen Bank GmbH
  • MORE

Abstract
Stable franchise as a captive finance company. High level of group integration with relatively strong parental support. Adequate capitalization. Limited business and earnings diversification. Concentration risks as business model highly dependent on relationship with large car dealers. Short-term wholesale funding profile. The rating on Volkswagen Finans Sverige AB (VWFS; formerly Svenska Volkswagen Finans AB) reflects our view of the company's entrenched business position as a captive finance company in Sweden for global automaker Volkswagen AG (A-/Negative/A-2) and its core status, resulting in a three-notch uplift above its stand-alone credit profile in relation to its parent, Volkswagen Financial Services AG (A-/Negative/A-2). The rating further reflects our view that VWFS has adequate capitalization. These positive factors are offset by the company's limited...

Companies mentioned in this report are:
- Volkswagen Finans Sverige AB
- Volkswagen AG
- Volkswagen Group Services S.A.
- Volkswagen Financial Services AG
- LeasePlan Corporation N.V.
- Volkswagen Bank GmbH
- Volkswagen Insurance Co. Ltd.
- Volkswagen Leasing, S.A. de C.V

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- Volkswagen Finans Sverige AB
- Volkswagen AG
- Volkswagen Group Services S.A.
- Volkswagen Financial Services AG
- LeasePlan Corporation N.V.
- Volkswagen Bank GmbH
- Volkswagen Insurance Co. Ltd.
- Volkswagen Leasing, S.A. de C.V

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