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EXOR SpA Outlook To Negative On Heavy Exposure To Fiat; 'BBB+/A-2' Ratings Affirmed Product Image

EXOR SpA Outlook To Negative On Heavy Exposure To Fiat; 'BBB+/A-2' Ratings Affirmed

  • ID: 1786594
  • June 2009
  • Standard & Poors

Abstract
Several assets in the investment portfolio are facing significant market and operational challenges, in our view. We are revising the outlook on Italian investment holding company EXOR SpA to negative from stable and affirming the 'BBB+/A-2' long- and short-term corporate credit ratings. The negative outlook reflects the group's heavy exposure to, in particular, Fiat, and our opinion that Fiat's credit quality is weakening. PARIS (Standard & Poor's) June 30, 2009--Standard & Poor's Ratings Services said today that it revised its outlook on Italy-based investment holding company EXOR SpA to negative from stable. At the same time, we affirmed our 'BBB+/A-2' long- and short-term corporate credit ratings on the group. "The outlook revision reflects EXOR's heavy exposure to Fiat," said Standard...

Companies mentioned in this report are: EXOR SpA
Action: Affirmed
Action: Outlook: Negative

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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