Standard & Poor's Corp. hauled Chrysler Corp. and Chrysler Financial Corp. out of the junkyard yesterday, restoring the investment grade ratings it stripped in 1991.

"It's something we've been waiting for, and we are delighted with the action, said John R. Ferry, a Chrysler Financial spokesman, adding that the rating move will mean lower borrowing costs for his company. "It's an acknowledgment of the company's management team and strategic direction."

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