AUTOS
From Times Staff and Wire Reports
Chrysler’s Bonds Upgraded: Moody’s Investors Service Inc. restored Chrysler Corp.’s investment-grade rating on $13 billion in debt after more than two years in junk bond territory. The move was surprising because Moody’s had indicated earlier that it would await the outcome of the United Auto Workers’ contract talks before deciding whether to rate Chrysler as an investment-grade risk. A Baa rating denotes bonds of medium-grade quality that appear to be adequate but may be unreliable over the long term.
