TEXT-Moody's cuts Fiat snr unsecured debt rtgs to Ba1

Newswire

(The following statement was released by the rating agency) Approximately $15 Billion of Debt Securities Affected. NEW YORK, Dec 23 - Moody's Investors Service today downgraded Fiat's senior unsecured debt ratings to Ba1 from Baa3 and its short-term debt rating to Not-Prime from Prime-3. The outlook for the ratings is negative. These downgrades conclude a rating review initiated by Moody's on 8 November 2002. The downgrades not only reflect Fiat's weak operating performance, especially ...

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