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Bulletin: Chrysler Group LLC Preliminary Debt Ratings Could Shift If Amounts Are Revised
Standard & Poors, May 2011
Abstract
NEW YORK (Standard & Poor's) May 17, 2011--Standard & Poor's Ratings Services today said that the reported possible changes in mix between the first-lien and second-lien debt in Chrysler Group LLC's proposed financing could change recovery and issue level ratings. Our ratings on Chrysler, including the corporate credit rating and all issue ratings are preliminary until after closing, when final dollar amounts are known and documentation has been reviewed. Ratings are preliminary because terms, conditions, pricing, and dollar amounts often change as companies, particularly new issuers, seek to access the capital markets. Our preliminary ratings on Chrysler's proposed first- and second-lien debt are currently as initially assigned: 'BB-' with a '2' recovery rating and 'B-' with a '6' recovery rating,...
Companies mentioned in this report are: Chrysler Group LLC
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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