TURIN – Fiat SpA, Fiat Auto SpA’s parent holding company, needs between E3 billion to E4 billion ($2.6 billion to $3.5 billion) to drastically cut its debt by the end of this year, the sooner the better. A poor credit rating is costing Fiat dearly in terms of interest rates and confidence of the financial markets. And sales of major assets are taking longer than anticipated and providing less cash than expected as – in some cases – they are going for less than their calculated worth. ...
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