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Moody's cuts Chrysler's rating closer to default

Newswire

NEW YORK, April 21 (Reuters) - Moody's Investors Service on Tuesday cut Chrysler LLC's debt rating to C, its lowest rating above default, citing the certainty of a bankruptcy or a debt restructuring it would view as a default.

Moody's also lowered its estimate of recoveries in the event of a debt default by Chrysler ...

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