Standard&Poor's Ratings Services' corporate credit rating reflects our assessment of Michigan-based automaker Chrysler Group LLC's business risk profile as "weak," and its financial risk profile as "aggressive" as defined by our criteria. Under our criteria, the combination of these profiles is consistent with our corporate credit rating. We believe underlying business risks remain high, most notably: Exposure to a potentially weak recovery in vehicle demand in North America; Still-high dependence on light truck sales in North America, despite the ongoing introduction of more fuel-efficient vehicles in conjunction with its Fiat SpA (BB/Watch Neg/B) partnership; and Substantial execution risk of its ongoing repositioning and expansion under Fiat's direction (Fiat owns 58.5%). We view Chrysler's ownership by Fiat as a
