Chrysler Closing In on Saving Itself
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Chrysler Closing In on Saving Itself
News Alert
9:35 a.m. ET Tuesday, April 28, 2009
Chrysler Creditors Agree to Deal
The Treasury Department reached an agreement with Chrysler’s creditors late last night that may prevent the troubled automaker from going into bankruptcy, a source familiar with the matter said. The carmaker had owed a fractious group of 45 banks, hedge funds and other firms about $6.9 billion. These creditors have agreed to write down the debt to $2 billion, the source said.
9:35 a.m. ET Tuesday, April 28, 2009
Chrysler Creditors Agree to Deal
The Treasury Department reached an agreement with Chrysler’s creditors late last night that may prevent the troubled automaker from going into bankruptcy, a source familiar with the matter said. The carmaker had owed a fractious group of 45 banks, hedge funds and other firms about $6.9 billion. These creditors have agreed to write down the debt to $2 billion, the source said.
