Most Chrysler LLC assets have been sold out of bankruptcy to a new company owned 20% by Fiat SpA. We are withdrawing all of our ratings on Chrysler LLC. On June 10, 2009, Standard&Poor's Ratings Services withdrew its ratings on Chrysler LLC, including the 'D' corporate credit rating. The rating withdrawal follows the sale of substantially all of the company's assets to a new entity, Chrysler Group LLC. The sale is part of the Chapter 11 bankruptcy proceedings of Chrysler LLC, which filed for bankruptcy on April 30, 2009. Under the operating agreement for unrated Chrysler Group LLC, the company initially will be owned 20% by Fiat SpA (BB+/Watch Neg/B), and Fiat may increase its stake to 35%
