Word: credited
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Dates: during 1970-1979
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Since earlier this year, when the bond-rating agencies downgraded the company's credit and thus effectively prevented it from raising any further funds in the public markets, Chrysler has had to live off its own flesh and bone. Following earlier sales of some or all of its interests in France, Britain, Brazil, Argentina and South Africa, the company in the past few months has announced the closing of two U.S. plants...
...resources-has dropped from an acceptable $1.1 billion early this year to a weak $800 million in June. The figure now is still lower, and stock analysts predict that it could shortly fall below $600 million. That would violate the fine print of the company's 1977 revolving credit agreement with some 180 banks and could place it in technical default on $567 million in debt...
...cuts* and the sale of the company's three corporate jets. Bankers may have to accept deferred payment and lower interest. A committee representing Chrysler dealers has offered to lend the company $50 for every car they receive-a deal that ultimately could amount to an interest-free credit totaling $120 million. lacocca has already confirmed that certain suppliers have agreed to extend terms of payment. Chrysler has also asked some to cut prices by as much...
Levitt has lobbied for the Small Business Investment Incentive Act, which would give a 10% tax credit to individuals for investments in new issues of firms with a net worth of $25 million or less...
...expanded their credit by announcing a 150 increase, to $2.50 per bu., in the amount a farmer can borrow from federal agencies against his wheat crop...