Magneti Marelli and creditors reach restructuring support agreement

Magneti Marelli has reached a restructuring support agreement with approximately 80% of its creditors and obtained a $1.1 billion debtor-in-possession financing commitment. This move is aimed at comprehensively restructuring long-term debt, reducing debt-to-asset ratios and improving liquidity. The company does not expect that the Chapter 11 process will affect its daily operations and will continue to work closely with its customers, suppliers and partners.