S&P upgrades Italy's Fiat to investment grade


MILAN, April 30 (Reuters) - Standard & Poor's has upgraded Italian automaker Fiat to investment grade status due to an improved performance and falling debt, the ratings agency said in a statement on Wednesday. S&P has raised Fiat's long-term corporate rating to 'BBB-' from 'BB+' and its short-term rating to 'A-3' from 'B'. The outlook is stable. "The upgrade reflects Fiat's improvement trend in operating performance, cash generation and debt reduction over the past three years, ...

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