TEXT-S&P says may cut Fiat's BB+ long-term rating

Newswire

(The following statement was released by the ratings agency) LONDON, June 26 - Standard & Poor's Ratings Services said today it placed its 'BB+' long-term corporate credit rating on Italy-based industrial group Fiat SpA on CreditWatch with negative implications due to an increased likelihood that the cash-draining Fiat Auto division will remain in the group. At the same time, Standard & Poor's affirmed its 'B' short-term corporate credit and commercial paper ratings on Fiat and ...

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