Moody's Investors Service cut Chrysler LLC's corporate debt rating further into junk status Thursday.

The bond ratings agency downgraded the Auburn Hills automaker because its current lineup is less able than its rivals to capitalize on consumers' shift away from trucks and SUVs and into cars.

The report stated that without any announced small cars in its pipeline through 2009, Chrysler's operating cash flow likely will remain negative.

"If Chrysler's prospects for establishing an adequately robust revenue and product profile remain limited, the long-term viability of the company's business model could be undermined despite the success of its cost cutting initiatives and the intermediate-term adequacy of its liquidity profile," said Bruce Clark, Moody's senior vice president.