Moody's on Dec. 18 affirmed Volkswagen Financial Services AG's long-term local- and foreign-currency issuer ratings and local-currency senior unsecured debt rating at A3 and withdrew the outlooks on the ratings for its own business reasons.

The rating agency also affirmed the A3 backed local-currency senior unsecured debt ratings of the company's guaranteed subsidiaries Volkswagen Leasing GmbH, Volkswagen Financial Services Australia Pty Ltd., Volkswagen Financial Services Japan Ltd. and the A3 foreign-currency backed senior unsecured debt rating of Volkswagen Financial Services NV, and withdrew the outlooks on the ratings.

The outlooks were stable prior to the withdrawal; the outlooks on all the companies remain stable.