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A.M. Best Affirms Ratings of Chrysler Financial

May 19, 2008

OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating of B++ (good) and issuer credit rating of “bbb” for Chrysler Financial. The outlook for both ratings is stable.

Chrysler Financial's capitalization and operating performance continues to be robust, but its current ratings are constrained by the operating challenges of its parent company, Chrysler LLC, analysts noted.

The ratings reflect the company's favorable operating results from its underwriting expertise, loss prevention measures and effective low cost distribution systems. However, these strengths are offset by the group’s limited product offering, which is subject to volatile underwriting results due to weather-related events, analysts noted.

The ratings' stable outlook recognizes the company's ongoing initiatives to maintain its above average underwriting results and protect overall surplus levels.

The A.M. Best ratings were first released in Oct. 2007, two months after DaimlerChrysler AG announced the sale of its 80 percent stake in the Chrysler Group to Cerberus Capital Management. A.M. Best is a global credit rating organization based in New Jersey, which serves the financial services industries.

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