On Nov. 8, 2007, Standard&Poor's Ratings Services affirmed its 'B' corporate credit rating on Chrysler LLC and DaimlerChrysler Financial Services Americas LLC (DCFS) and removed it from CreditWatch with positive implications, where it was placed Sept. 26, 2007. The outlook is negative. The CreditWatch placement resulted from the announcement that day by General Motors Corp. (GM) that it had reached a contract agreement with its main labor union, the United Auto Workers (UAW). As we expected, Chrysler reached a largely similar agreement that caused us to review the company's rating and outlook. Also today, we assigned our bank loan and recovery ratings to Chrysler's $7.5 billion, secured first-lien term loan. The loan is rated 'BB-' (two notches higher
