TEXT-Moody's cuts Fiat's ratings, outlook negative

Newswire

(The following statement was released by the rating agency) LONDON, June 26 - Moody's Investors Service lowered its ratings of debt guaranteed by Fiat S.p.A - senior unsecured ratings were reduced to Baa3 from Baa2 and the rating for commercial paper was lowered to Prime-3 from Prime-2. In a related action Moody's confirmed the Ba2 rating of Case Corporation and Case Credit Corporation. The outlook for the Fiat and Case ratings is negative. Fiat Rating Rationale: The downgrade of the ...

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