Chrysler to retool Del. plantChrysler Corp. said yesterday...

BUSINESS DIGEST

November 19, 1992

Chrysler to retool Del. plant

Chrysler Corp. said yesterday that it will spend $137 million to retool a plant in Delaware to expand production of its new Dodge Intrepid midsize car.

The plant in Newark, threatened with being closed after its current lineup of cars ends in 1994, will be hit with some layoffs.

Chrysler's new line of compact cars for the 1995 model year has been assigned to its assembly plant in Sterling Heights, Mich.

Westinghouse debt downgraded

Concerned about problems afflicting Westinghouse Electric Corp.'s credit unit, Moody's Investor Service Inc. has lowered its debt rating on the company.

Moody's action came a day after Westinghouse said it was considering selling or liquidating the credit unit. Westinghouse said accelerating the downsizing of the unit may require additional reserves against loan losses.

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