AB Volvo assigned A- long-term credit rating by Standard & Poor's

AB Volvo assigned A- long-term credit rating by Standard & Poor's

Standard & Poor's has assigned an “A-“ long-term corporate credit rating with
stable outlook for AB Volvo and affirmed the A-2 short-term rating.

In their credit report Standard & Poor's says the assigned rating reflects AB
Volvo's “leading market positions worldwide” and the fact that "Volvo also
benefits from a conservative financial profile and high financial flexibility”.

”In the current financial environment it's very valuable to have an additional
rating perspective”, says Mikael Bratt, CFO of the Volvo Group. ”This report
gives the investor community a clear picture of our financial strength and
position.”

January 23, 2009 

For further information, please contact Mårten Wikforss, +46 31 66 11 27

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AB Volvo (publ) may be required to disclose the information provided herein
pursuant to the Securities Markets Act. The information was submitted for
publication at HH.MM p.m. CET, January 23, 2009.

The Volvo Group is one of the world's leading manufacturers of trucks, buses and
construction equipment, drive systems for marine and industrial applications,
aerospace components and services. The Group also provides complete solutions
for financing and service. The Volvo Group, which employs about 100,000 people,
has production facilities in 19 countries and sells their products in more than
180 markets. Annual sales of the Volvo Group amount to about SEK 285 billion.
The Volvo Group is a publicly-held company headquartered in Göteborg, Sweden.
Volvo shares are listed on OMX Nordic Exchange Stockholm. Please visit
http://www.volvogroup.com/ for more information.