StaffAllpar HomeMore NewsCarsTrucksUpcomingRepairsTest drives

Fiat in junk status

by David Zatz on

Automotive News just reported that Moody’s Investors Service has cut Fiat SpA’s long-term rating to Ba1, the first level of “junk” status, as a result of negative cash flow, debt, and a weak automotive market.

Moody’s put on a negative outlook, indicating that they could downgrade it again within two years. While Moody’s noted Fiat’s more diversified businesses and respected products, it also expects auto demand to fall by 20% in the first quarter of 2009, and doubted that Fiat would be able to cut production quickly enough.

2019 ram promaster
Big (but not too scary) ProMaster recall

Jeep teases a limited edition Wrangler ahead of Chicago
brands
PSA has defined its brands, giving hope to Chrysler and Dodge

More Mopar Car
and Truck News

Some popular Allpar pages





Dodge Demon

2018 Wrangler JL



Staff details/contactsTerms of ServiceInformation is presented to the best of our knowledge. Plans change and sometimes mistakes are made. Decisions or purchases made based on this site's verbiage or images are done at the reader's own risk. Also see the Allpar News archives, 1997-2008 • Copyright © VerticalScope Inc. All rights reserved. • Mopar, Dodge, Jeep, Chrysler, HEMI, and certain other names are trademarks of Fiat Chrysler Automobiles.