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Fiat says S&P confirmed its rating, outlook stable
January 10, 2014 / 5:30 PM / 4 years ago

Fiat says S&P confirmed its rating, outlook stable

MILAN, Jan 10 (Reuters) - Fiat said on Friday Standard & Poor’s had confirmed its ‘BB-’ rating on the Italian carmaker’s long-term debt, keeping its outlook stable.

The agency also confirmed Fiat’s ‘B’ short-term rating, it added.

Earlier this week, Moody’s had placed its own rating of Fiat under review for a possible downgrade following the company’s $4.35 billion deal to take full control of Chrysler Group LLC, citing worries about the group’s liquidity position.

Fitch Ratings said last week the deal had no immediate impact on the carmaker’s ratings, but added that a full rating review would be conducted in early 2014.

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