MILAN Feb 17 Italian carmaker Fiat
said on Monday that its access to finances of its U.S. unit
Chrysler, of which it took control last month, was restricted by
a cap on dividend distributions and debt covenants.
"Among the most significant is a cap on dividend
distributions, other than distributions in respect of taxes,
governed by a builder-basket equal to 50 percent of accumulated
net income from Jan. 1, 2012, in addition to a one-time basket
of $500 million," Fiat said in a statement.
The group also said intercompany financing was not limited
other than by covenants which require that deals be approved by
a majority of "disinterested" members of the Chrysler board of