S&P's likely to cut long-term Fiat rating to BB-


MILAN, Feb 29 (Reuters) - Rating agency Standard & Poor's is likely to cut the long-term credit rating of Italian car-maker Fiat by one notch to BB- at the end of an ongoing credit review.

"The most likely outcome when we resolve this CreditWatch is a lowering of the long-term rating by one notch to 'BB-'," the agency said in a statement on Wednesday.

"A two-notch downgrade is less likely, unless it becomes clear that Fiat's and Chrysler's risk of default is more integrally linked than we have assessed it to be to date."

Fiat's short-term 'B' rating was not on CreditWatch, the rating agency said. (Reporting By Lisa Jucca)



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