On Oct. 29, 2007, Standard&Poor's Ratings Services said its corporate credit ratings on Chrysler LLC and DaimlerChrysler Financial Services Americas LLC remain on CreditWatch with positive implications, following the United Auto Workers' (UAW) narrow approval of the new Chrysler-UAW labor contract. The ratings were placed on CreditWatch on Sept. 26, 2007, based on our belief that Chrysler would reach a deal similar to the one General Motors Corp. reached with the UAW on that date. Chrysler and the UAW subsequently reached their own four-year agreement as expected, and the UAW has now approved that contract. We view the new contract as favorable to Chrysler compared with past agreements, and we believe the contract will support the company's turnaround
