Breaking:Fiat Chrysler Upgraded to Investment Grade Credit rating

[AlexB]

Its been in the making for while, but the time has come....Fiat Chrysler is now Investment Grade:

"Fitch has raised ratings on Fiat Chrysler, including the long-term one at 'BBB-' from 'BB', with a stable outlook."

"The upgrade reflects the continued strengthening of the FCA financial profile and the rating agency's expectations that this improvement is sustainable despite a potential cyclical weakening of car sales on some key markets where the group is present, the report reads."

"The credit profile of FCA has also been improved by the sale of Magneti Marelli, which should be completed in 2019 and will further lower the group's indebtedness by increasing its financial flexibility."

"The upgrade, according to the report, also reflects the company's solid business profile, which makes it consistent with a rating in the lower part of the investment-grade area."

https://it.reuters.com/article/foreignNews/idITL8N1Y5560

 

[AlexB]

https://www.streetinsider.com/dr/news.php?id=14879159&gfv=1
https://globenewswire.com/news-rele...ts-rating-on-FCA-N-V-to-Investment-Grade.html

 

[UN4GTBL]

Excellent!

 

[Jared B]

Good news for sure.

 

[redriderbob]

Thank you Sergio...

 

[AlfaCuda]

Excellent news.

 

[Muther]

This is now an unsettling time for FCA. I thank the heavens that sane, smart, people are in charge, and those people have a vested interest in doing right by FCA and all it means.

Now that FCA is debt free (zero net debt), or soon to be, and it will continue its investments in itself, and hopefully put some money in the bank, it could be a target for companies or individuals with less than honorable intentions (Daimler cough cough).

As it continues on its path, FCA will look better and better as a partner company, or as an acquisition or for merger.