Crisis-hit Italian industrial group Fiat has met debt objectives agreed with creditor banks, the banks and Fiat said in a statement on Thursday following a meeting, according to Reuters.
Reuters said Fiat and the banks confirmed the validity of a 2002 restructuring plan, adding they were ready to consider extending financing for “the evolution of the plan”.
The banks last year extended a 3.0 billion loan on condition Fiat cut net debt to 3.0 billion euros by early this year from 5.8 billion in September, Reuters noted.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

Just Auto Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Auto Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving automotive industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now