TEXT - Fitch cuts Peugeot S.A. long-term issuer default rating

Newswire

(The following statement was released by the rating agency) Feb 25 - Fitch Ratings has downgraded Peugeot SA's (PSA) Long-term Issuer Default Rating (IDR) to 'B+' from 'BB-' and affirmed the senior unsecured rating at 'BB-' with a Recovery Rating (RR) of 'RR3'. The Outlook on the Long-term IDR is Negative. The downgrade reflects our concerns that operating losses at PSA's core automotive division and negative free cash flow (FCF) at group level may not be curbed at the ...

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