NEW YORK (Standard&Poor's) Dec. 4, 2007--Standard&Poor's Ratings Services said today that it revised its recovery rating on Chrysler's $2 billion senior secured second-lien term loan due 2014. The issue-level rating on this debt remains unchanged at 'B' (the same level as the corporate credit rating on Chrysler), and the recovery rating was revised to '3', indicating an expectation for meaningful (50% to 70%) recovery in the event of a payment default, from '4'. Both the issue-level and recovery ratings on Chrysler's $7 billion first-lien term loan due 2013 remain unchanged. The issue-level rating on this debt is 'BB-' (two notches higher than the 'B' corporate credit rating) with a recovery rating of '1', indicating an expectation
