Posted 06/02/2018 14:17:37CET
LONDON, Feb. 6 (EUROPE PRESS) –
The credit rating agency S & P has revised up the long-term rating of the Fiat Chrysler Automobiles (FCA) automobile consortium, which goes from ‘BB’ to ‘BB +’ (questionable quality, with uncertain long-term capacity with great sensitivity to adverse environments).
The firm explained that this improvement reflects the progress being made by the automotive corporation in its balance sheet, as well as “the solid profit margin” and the operating “free cash flow”. This has also led to a review of the financial risk profile, which goes from ‘significant’ to ‘intermediate’.
S & P expects Fiat Chrysler to continue posting “solid” margins, as well as cash flows and experience lower leverage during the next year, which motivates upward maintenance of the company’s rating.
The rating agency has also decided to keep the business perspective of the corporation ‘positive’, while the short-term rating of the car firm is confirmed in ‘B’ (weak capacity with uncertain evolution very limited by environmental conditions) .