ITALY: Fiat group meets creditor banks’ debt objectives – report
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.
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.
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