Moody's Investors Service, ("Moody's") has today affirmed the Baa3 Long Term Issuer rating of German manufacturing company Voith GmbH & Co. KGaA ("Voith"). Concurrently, Moody's changed the outlook of Voith to negative from stable. More specifically, the weaknesses in Voith's credit profile, including its exposure to the automotive industry have left it vulnerable to shifts in market sentiment in these unprecedented operating conditions and Voith remains vulnerable to the outbreak continuing to spread.