NEW YORK (Standard&Poor's) Aug. 7, 2007--Standard&Poor's Ratings Services said today that its ratings on Chrysler LLC (B/Negative/--) and related entities are not affected by Chrysler's announcement that it has hired a new chairman and CEO from outside the industry and that the current chief executive of Chrysler will remain as vice-chairman and president. The appointment expands Chrysler's senior management team and should provide additional focus on the previously announced turnaround plan, but the timing of the appointment was unexpected. Competitor Ford Motor Co. (B/Negative/B-3) hired a new CEO from outside the auto sector in 2006. The new Chrysler CEO is arriving in the midst of crucial labor negotiations. We have noted that the Michigan-based automakers and
