TEXT-S&P says Fiat ratings unchanged by put option delay

Newswire

(The following statement was released by the ratings agency) LONDON, Oct 27 - Standard & Poor's Ratings Services said today that the postponement, by one year, of the exercise period during which Italian industrial group Fiat SpA (Fiat; BB-/Stable/B) has the right to sell its stake in Fiat Auto Holding B.V. (Fiat Auto) to General Motors Corp . (GM; BBB/Negative/A-2) has no impact on the ratings on Fiat. The put option will be exercisable from 2005 to 2010, instead of 2004 to 2009 ...

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