S&P assigns BB-/B ratings to Fiat Chrysler Automobiles
MILAN, Oct 13 (Reuters) - Standard & Poor's said on Monday it had assigned newly-created Fiat Chrysler Automobiles (FCA) a 'BB-' long-term rating and a 'B' short-term rating with a stable outlook.
The ratings on FCA are the same as those S&P previously held on the company's predecessor Fiat.
"The creation of FCA as the new parent holding company of the group has no material impact on the group's operations or credit quality," the ratings agency said in a statement .
FCA began trading in New York and Milan on Monday.
Fiat completed the buyout of its U.S. unit Chrysler this year and is now incorporating all of its businesses under Dutch-registered FCA, which will have a UK fiscal domicile and London headquarters, with operations centres in Turin and Detroit.
(Reporting by Agnieszka Flak and Shivam Srivastava, editing by Danilo Masoni)