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

Newswire

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 ...

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