Research Update: Chrysler, DCFS Ratings Lowered To 'B-' On Weak U.S. Industry Conditions; Still On Watch Neg - S&P Global Ratings’ Credit Research

Research Update: Chrysler, DCFS Ratings Lowered To 'B-' On Weak U.S. Industry Conditions; Still On Watch Neg

Research Update: Chrysler, DCFS Ratings Lowered To 'B-' On Weak U.S. Industry Conditions; Still On Watch Neg - S&P Global Ratings’ Credit Research
Research Update: Chrysler, DCFS Ratings Lowered To 'B-' On Weak U.S. Industry Conditions; Still On Watch Neg
Published Jul 31, 2008
Published Jul 31, 2008
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

On July 31, 2008, Standard&Poor's Ratings Services lowered its ratings on Chrysler LLC, including the corporate credit rating, to 'B-' from 'B'. At the same time, we lowered the counterparty credit rating on DaimlerChrysler Financial Services Americas LLC (DCFS), the auto finance affiliate of Chrysler, to 'B-' from 'B'. All ratings remain on CreditWatch with negative implications, where they were placed originally on June 20, 2008. Separately, we revised the recovery rating on Chrysler's $1.5 billion second-lien term loan to '4', indicating the expectation of average (30% to 50%) recovery in the event of a payment default, from '3'. The issue-level rating on this debt is now 'B-', the same as the corporate credit rating on the company.

  
Report Type:

Research Update

Ticker
3318058Z
Issuer
Chrysler Group LLC
GICS
Automobile Manufacturers (25102010)
Sector
Global Issuers, Public Finance, Structured Finance
Country
United States
Region
United States
Format:
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Chrysler, DCFS Ratings Lowered To 'B-' On Weak U.S. Industry Conditions; Still On Watch Neg" Jul 31, 2008. Alacra Store. May 24, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Chrysler-DCFS-Ratings-Lowered-To-B-On-Weak-U-S-Industry-Conditions-Still-On-Watch-Neg-662657>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Chrysler, DCFS Ratings Lowered To 'B-' On Weak U.S. Industry Conditions; Still On Watch Neg Jul 31, 2008. New York, NY: Alacra Store. Retrieved May 24, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Chrysler-DCFS-Ratings-Lowered-To-B-On-Weak-U-S-Industry-Conditions-Still-On-Watch-Neg-662657>
  
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