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FCA: signs E6.3bn credit facility

( - Fiat Chrysler Automobiles announced on Wednesday evening that it has signed a credit facility of 6.
3 billion euros with the Italian bank Intesa Sanpaolo.

The car maker said in a statement that the new three-year credit line is intended to finance the resumption of its industrial activities in Italy.

FCA states that this credit facility is guaranteed up to 80% by SACE, the Italian export credit agency, under the government decree "Decreto Liquidita," aimed at supporting companies affected by the effects of the Covid-19 epidemic.

The market seems to be reassured by this news - the FCA share was up around 1.8% on the Milan Stock Exchange after this announcement.

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