Arab Today, arab today fitch downgrades italian auto giant fiat\s rating
Last Updated : GMT 21:02:56
Arab Today, arab today
Arab Today, arab today

Fitch downgrades Italian auto giant Fiat\'s rating

Arab Today, arab today

Arab Today, arab today Fitch downgrades Italian auto giant Fiat\'s rating

Milan - AFP

Ratings agency Fitch on Tuesday said it was downgrading Italian auto giant Fiat\'s credit rating by one notch to BB from BB+, saying there were potential \"risks\" in its alliance with Chrysler. The US agency also said it was turning its outlook on the company to negative -- an indication of a possible further downgrade in the medium term. Emmanuel Bulle, senior director at Fitch\'s European corporates group, in a statement linked the rating action to Fiat\'s merger with the US auto group. \"The current ratings are based on Fiat\'s standalone credit profile but incorporate heightened short-term risks for Fiat from its combination with Chrysler in an increasingly challenging environment for the group,\" he said. \"Chrysler has a weaker credit profile than Fiat and sustained benefits to Fiat from this deal should only accrue in the medium to long term,\" he said, referring to Fiat\'s gains from the deal in terms of economies of scale. Fitch said there was also a risk in Fiat\'s dependency on the Italian and Brazilian markets and its scant presence in high-growth economies like China, India and Russia. Moody\'s, another ratings agency, downgraded Fiat by one notch on September 21 to Ba2. Fiat took over management of Chrysler in June 2009 after the US company emerged from bankruptcy proceedings and gradually increased its stake in Chrysler\'s capital to the current level of 53.5 percent. The stake is due to increase to 58.5 percent by the end of 2011.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today fitch downgrades italian auto giant fiat\s rating Arab Today, arab today fitch downgrades italian auto giant fiat\s rating

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday