Moody's lowers Chrysler Financial

Moody's Investors Service said it downgraded DaimlerChrysler Financial Services Americas LLC's corporate family rating to B2 from B1. Ratings remain under review for further downgrade.

This action follows the downgrade of Chrysler Automotive, LLC's corporate family rating to Caa1 from B3.

According to Moody's, the downgrade of Chrysler Financial reflects the operating challenges at Chrysler Automotive and their potential to hurt its credit profile, including its asset quality, funding access and costs, and profitability.

The downgrade also considers the effect of higher funding costs on Chrysler Financial's scope of operations and profitability, the agency added.

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