Moody's returns Fiat rating to investment grade

Newswire

By Maya Thatcher LONDON, May 28 (Reuters) - Italian carmaker Fiat regained in full its investment-grade status on Wednesday following a one-notch ratings upgrade by Moody's Investors Service. Moody's raised Fiat's long-term senior unsecured ratings to Baa3 from "junk" Ba1, affecting 7.1 billion euros ($11.2 billion) of debt, the ratings agency said in a statement. Moody's is the last of the three major ratings agencies to raise Fiat to investment grade, following upgrades by Fitch ...

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