Find a news story anywhere in the world:

Category:    

Keywords:   

Address:    
   
Stories Stories Business Fiat's access to Chrysler funds curbed by dividend cap, debt covenants

Fiat's access to Chrysler funds curbed by dividend cap, debt covenants

http://mireportz.com/media/reviews/photos/thumbnail/300x300s/4c/70/4c/12215-fiat-s-access-to-chrysler-funds-curbed-by-dividend-cap-debt-covenants-51-1399546073.gif
Written by Aldine      May 08, 2014    
 
0.0 (0)
204   0   3   0   0   0
 
Write Review
Fiat's access to Chrysler funds curbed by dividend cap, debt covenants.gif

Part of the motivation for the auto group's $4.35 billion deal to take full ownership of the No. 3 U.S. carmaker was to give Fiat access to Chrysler's finances so it could invest in new models to revamp its loss-making operations in Europe.

Fiat's Access To Chrysler Funds Curbed

Analysts have raised concerns about Fiat's growing debt pile and its ability to fund a strategy that will shift the automaker's focus to its upscale Maserati and Alfa Romeo brands from an over-reliance on low-margin mass-market models.

Moody's cut Fiat's rating to four notches below investment grade last week, citing weaker-than-expected 2013 results and challenges to the carmaker's outlook for this year given eroding profitability in Latin America.

[Read Full article: Fiat's access to Chrysler funds curbed by dividend cap, debt covenants]

Fiat's access to Chrysler funds curbed by dividend cap, debt covenants-2.png
Fiat's access to Chrysler funds curbed by dividend cap, debt covenants-1.jpg

Location

Epicentre
Milan, Italy

Details

Author
Agnieszka Flak
Contributor's Comment
Indebted Italian carmaker Fiat (FIA.MI) said on Monday that its access to the cash of U.S. subsidiary Chrysler, which it took full control of last month.
Swap Start/End

User reviews

There are no user reviews for this listing.

 
Site sponsored by BiStuff | Buy & Sell Locally