Standard & Poor's downgrade of Volkswagen will have no immediate impact on its three U.S. auto loan and one auto lease asset-backed securities transactions it rates originated by  VW Credit Inc., the rating agency said late Wednesday.

On Dec. 1, S&P cut the long- and short-term ratings on VW to 'BBB+/A-2'   from 'A-' as the result of the emissions scandal.

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