Fiat Chrysler can now tap U.S. unit's cash

March 16, 2016 11:05 AM

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DETROIT -- Fiat Chrysler Automobiles said Tuesday it has eliminated certain conditions, or covenants, previously tied to two loans, and that will free cash from its U.S. subsidiary for use by the parent company.

After Fiat completed its acquisition of Chrysler in 2014, the combined company did not have direct access to Chrysler's cash due to the debt covenants and a cap on dividends.

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