S&P puts Fiat Chrysler on positive watch

S&P said it placed the ratings for Fiat Chrysler Automobiles NV on CreditWatch with positive implications.

The placement follows the announcement that Fiat Chrysler and Peugeot SA plan to merge.

“The CreditWatch placement reflects our view of increased rating upside resulting for FCA because we believe that the combined group could benefit from its increased scale, improved business diversity, and relatively low leverage post-closing, judging by the proposed transaction’s preliminary outline. This is despite the proposed dividend payout of €5.5 billion ahead of the merger,” said S&P in a press release.

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