MILAN, Feb 29 (Reuters) - Rating agency Standard & Poor's is likely to cut the long-term credit rating of Italian car-makerby 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's and '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)