S&P may cut Fiat L-T rating after recovery plan


LONDON, June 26 (Reuters) - Credit rating agency Standard & Poor's said on Thursday it may cut Italian industrial group Fiat's BB+ long-term corporate credit rating after the company unveiled a plan aimed at restoring the firm to profit. S&P said in a statement that Fiat's BB+ rating had been placed on CreditWatch with negative implications, citing an increased likelihood that the cash-draining Fiat Auto division will remain in the group. S&P affirmed its B short-term corporate ...

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