NEW YORK (Standard&Poor's) May 17, 2011--Standard&Poor's Ratings Services today said that the reported possible changes in mix between the first-lien and second-lien debt in Chrysler Group LLC's proposed financing could change recovery and issue level ratings. Our ratings on Chrysler, including the corporate credit rating and all issue ratings are preliminary until after closing, when final dollar amounts are known and documentation has been reviewed. Ratings are preliminary because terms, conditions, pricing, and dollar amounts often change as companies, particularly new issuers, seek to access the capital markets. Our preliminary ratings on Chrysler's proposed first- and second-lien debt are currently as initially assigned: 'BB-' with a '2' recovery rating and 'B-' with a '6' recovery rating,
