Fiat says Moody's downgrade "unjustified"

Newswire

MILAN, Dec 23 (Reuters) - Crisis-hit Fiat said on Monday a decision by Moody's Investors Service to cut the group's ratings to junk status was "surprising and unjustified" as the group's current situation had improved after recent asset sales. Moody's on Monday cut Fiat's debt ratings to junk status, affecting about $15 billion of debt, saying Italy's largest automaker suffers from weak operating performance and a high debt load. Fiat also said in a statement that it would handle the ...

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