MILAN, December 8 (Reuters) – Standard & amp; Poor’s confirmed the rating of ‘BB-’ long-term of Fiat and Chrysler to ‘B’ with a stable outlook on the short.
The rating agency has also assigned ‘B-’ announced the issuance of a convertible bond from $ 2.5 billion maturing in 2016, it said in a statement.
The confirmation of the rating reflects the belief that the issue of converting and the offer of ordinary shares support the financial risk profile of Fiat Chrysler, and thereby reduce the risk of downgrade.
Together with the issue of converting, Fiat Chrysler announced an offering of 87 million common shares with an option for placing banks to buy an additional 13 million shares.
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