Despite the recent strong performance, Fiat’s credit rating still has a ‘junk bond’ status. Something its CEO Sergio Marchionne said was “obscene” because the carmaker no longer has any debt. Analysts predict it will take a further six months to a year before Fiat’s ratings are upgraded to ‘investment grade’ status, and this will only happen if it can sustain its current performance and market share, Reuters reports.
Remember this is the same company that owns the Maserati, Ferrari and Alfa Romeo brands in addition to its own Fiat and Lancia labels and trucking business. Considering the number of exciting new products on the horizon, increased sales and U.S. expansion plans, we’re sure Fiat’s junk status won’t stay that way for long.