DETROIT, April 30 (Reuters) - Chrysler LLC Chief Executive Bob Nardelli said on Thursday the automaker remains focused on reaching an agreement with its lenders to cut its debt in a bid to complete the government-mandated restructuring targets and qualify for aid.
“With the guidance of the U.S. Treasury, we also continue to work with our lenders to establish a level of debt that would be serviceable under the proposed Fiat alliance,” he said in a memo to staff that was obtained by Reuters.
“The agreement of all lenders continues to be a critical factor in our ability to meet government requirements and as such, remains our focus in the successful completion of our restructuring efforts,” he added.
Nardelli also said he expected the U.S government to make an announcement on Thursday on whether Chrysler has met all requirements to qualify for emergency government loans.
He also said the automaker has made “great strides” toward an alliance with Italian automaker Fiat SpAFIA.MI. (Reporting by Poornima Gupta; Editing by Derek Caney)