Moody's revised Fiat's rating downwards from Ba1 to Ba2 with a negative outlook. The rating agency specified that the downgrading is due to the greater integration of Fiat with Chrysler. Shortly after noon, the Lingotto stock lost 3,85% in Piazza Affari.
Falk Frey, Moody's senior vice president and lead analyst for Fiat, said: "The decision reflects Moody's expectations that the creditworthiness of Fiat and Chrysler will align as the two groups' strategy and operations gradually become more interconnected." ”. The debt involved is around 8,3 billion euros.
