S&P cuts Fiat to junk status, may cut again

Newswire

NEW YORK, March 31 (Reuters) - Standard & Poor's on Tuesday cut its ratings on Fiat SpA to junk status and said it may cut them again, citing the auto maker's weak liquidity and upcoming debt maturities. The downgrade came on the same day that Fiat was set for talks with Chrysler LLC labor unions and creditors after U.S. authorities gave the carmakers 30 days to set up a partnership to save Chrysler. S&P cut Fiat's rating by one notch BB-plus, the highest junk rating, from ...

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