Fitch upgrades Fiat rating, says credit to improve

Newswire

LONDON, Jan 26 (Reuters) - Italian auto group Fiat moved a step closer to its target of regaining investment-grade status on Friday, as Fitch Ratings upgraded the company one notch to BB and said its credit profile should improve further in 2007. Fitch's rating is now two notches below investment-grade status, in line with Standard & Poor's rating and one notch higher than Moody's Investors Service's grade of Ba3. Fiat aims to return to investment-grade status as part of its plan ...

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