Fiat finally had its investment grade rating restored by a second large ratings agency yesterday after months of haranguing by Sergio Marchionne, the Italian industrial group’s chief executive.

Standard & Poor’s raised the long-term credit rating from double B+ to triple B-, following a similar move by Fitch last year. Moody’s still has Fiat rated as one level below investment grade but with a positive outlook. S&P took away Fiat’s investment grade rating in 2002.