Fiat sales may not stave off ratings cut-S&P

Newswire

LONDON, Dec 23 (Reuters) - Italian auto giant Fiat could still have its credit ratings cut despite selling its holding in General Motors and its European finance unit Fidis in order to cut debt, Standard & poor's said on Monday. "These sales do not come as a surprise to us and the sale of the Fidis finance unit is already factored into our analysis," said Virginie Casin, an analyst at S&P. "Fiat remain on review for a possible downgrade and these sales do not mean they will not be ...

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