Fiat CEO says disagrees with Moody's downgrade
BRUSSELS, Oct 10 (Reuters) - Fiat's Chief Executive Sergio Marchionne said he disagreed with Moody's decision on Wednesday to downgrade the Italian carmaker rating by one-notch to Ba3.
"The decision was expected by I don't share it," Marchionne told Reuters on the sidelines of a conference.
The U.S. rating agency cut its credit rating on Fiat to Ba3 with negative outlook on Wednesday, citing the carmaker's reliance on its declining home market. [ID:nL6E8LA2HK}
Moody's said it would consider further downgrading Fiat if standalone net industrial cash flow were to exceed a negative 2 billion euros in 2012 and not improve in 2013.
(Reporting by Francesco Guarascio; Editing by Lisa Jucca)
Keywords: FIAT MOODY'S/