Da Standard & Poor's bad omens come for Fiat. The American rating agency has put in negative credit watch BB long-term rating and the 'BB' rating on its senior unsecured Lingotto debt. This was communicated by S&P itself, explaining that the decision was mainly influenced by the difficulty of the European market and Brazilian and dependence on Chrysler.
In particular, the agency forecasts a deterioration in operating performance this year in the Old Continent: "We have observed a significant excess of production capacity on the European market - reads the note from S&P -, especially in Italy, Fiat's second largest market, combined with a weak demand resulting from the austerity measures in Italy”.
Furthermore, "in Brazil, the strongest market for the Turin company, competition is growing” and this will have an impact on the leadership of the Lingotto.
About two hours after the start of the trading, the Fiat share dropped more than three and a half points in Piazza Affari.
