TEXT-S&P says Fiat ratings, outlook unaffected remain unchanged

Newswire

(The following statement was released by the ratings agency). LONDON, March 24 - Standard & Poor's Ratings Services said today that the announcement made by Italy-based industrial group Fiat SpA (BB+/Negative/B) regarding the impending disposal of its insurance subsidiary, Toro Assicurazioni SpA (local currency Api/--/--), would have no effect on the ratings or outlook on the group. This transaction, which will reduce Fiat's consolidated net debt by EUR1.4 billion ($1.5 billion), was ...

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