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Fitch assigns ratings to Turkey-based Volkswagen Dogus Finansman

Fitch Ratings on Feb. 20 assigned BBB-/F3 long- and short-term issuer default ratings to Volkswagen Dogus Finansman AS, with a stable outlook on the long-term rating.

The agency also assigned the Turkish financial services firm a national long-term rating of AAA(tur), with a stable outlook, and a support rating of 2.

The ratings reflect that the company is strategically important for controlling shareholder Volkswagen Financial Services AG and ultimately for Volkswagen AG, who back the entity given its role in supporting the car sales of the group in Turkey.