S&P may raise Chrysler's rating on GM labor deal

Newswire

NEW YORK, Sept 26 (Reuters) - Standard & Poor's on Wednesday said it may raise Chrysler LLC's debt rating, citing a tentative agreement between General Motors Corp and the United Auto Workers union that ended a national strike. "We believe it is increasingly likely, based on the pattern set by GM's tentative deal, that...Chrysler will reach a broadly similar agreement," S&P said in a statement. S&P now rates Chrysler "B," five steps below investment grade.

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