NEW YORK (Standard&Poor's) Oct. 13, 2011--Standard&Poor's Ratings Services said today that the reported agreement between Chrysler Group LLC (B+/Stable/--) and its main labor union, the UAW, appears consistent with our rating on the company. The pending contract has no impact on the rating because the Chrysler rating is influenced by both Chrysler's performance (and we do not expect the new contract to impede profitability) and because Fiat SpA's (BB/Negative/B) involvement with Chrysler is a major rating factor. Fiat now owns more than 50% of Chrysler; most of the remainder is owned by a VEBA trust for the benefit of UAW retiree healthcare. We view Chrysler's ownership by Fiat as favorable to our business risk profile assessment
