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FCA: S&P raises credit rating to 'BB+'

( - S&P has raised its long-term corporate credit rating on FCA from "BB" to "BB+", while maintaining a "positive" outlook on the group, the Italian-American carmaker said on Tuesday.

However, S&P's decision failed to impact the shares this morning, with the stock losing around 3.9% in Italy's FTSE MIB index.

In a separate announcement, Fiat Chrysler said Tim Kuniskis, a 26-year veteran of FCA, has been named head of Alfa Romeo and Maserati brands globally.

Steve Beahm has been named head of passenger car brands in North America, replacing Kuniskis, while Reid Bigland, who was formerly head of Alfa Romeo and Maserati brands, will continue serving as head of US sales.

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