MILAN -- The Italian automaker Fiat said Friday that it won't assume Chrysler LLC debt - current or future - in deal for a 35-percent stake, contradicting statements from Chrysler's chief executive that it would, according to The Associated Press.

The statement said the Fiat Group "intends to make absolutely clear that the proposed alliance will not entail the assumption of any current or future indebtedness to Chrysler."

By contrast, Chrysler's chief executive said Thursday the Italian automaker would be responsible for 35 percent of Chrysler's debt to the U.S. government should a proposed alliance go through.