Not long after the automaker declared it was paying back government bailouts and posted quarterly net income for the first time since bankruptcy, Chrysler Group chief executive officer Sergio Marchionne had more positive financial news to share Tuesday.

Standard & Poor’s issued a preliminary B+ credit rating for Chrysler. Also coming Tuesday, the automaker learned Moody’s issued a B2 credit rating and “positive” outlook for the OEM.

Chrysler’s top executive contends both developments represent “a further important step” for the company.

“I believe it also shows recognition of the efforts made by Chrysler Group’s management, employees and other stakeholders in less than two years to bring Chrysler back to life following the exit from Chapter 11,” Marchionne insisted.

“Chrysler Group, as a standalone company, is again on the radar screen of the financial community after 13 years of absence,” he added.

Marchionne then turned back to the other recent successes Chrysler has enjoyed. 

“Moreover, the results achieved in the first quarter of 2011 and the recently announced plans to repay the U.S. and Canadian governments further strengthen our commitment and determination to achieve, with rigor and discipline, all the targets set in the 2010-14 Chrysler Group business plan presented on Nov. 4, 2009,” Marchionne emphasized.

“So far, all of the goals have been reached and, in some cases, exceeded; evidence of the speed at which the company has been able to realize its profound culture change,” he went on to say.

On Monday, Chrysler revealed its first quarter net income totaled $116 million compared to a net loss of $197 million in the first quarter of last year.

The OEM also calculated its first-quarter modified operating profit came in at $477 million, up from $143 million in the same time period a year ago.

Fueling those gains was Chrysler’s first-quarter revenue sum, which was $13.1 billion, a 35-percent jump from $9.7 billion posted in the opening quarter of 2010.

As of March 31, Chrysler said it had $9.9 billion in cash, marking a jump from $2.5 billion to close out last year.

“Chrysler Group’s improved sales and financial performance in the first quarter show that our rejuvenated product lineup is gaining momentum in the marketplace and resonating with customers,” Marchionne asserted.

“These results are a testament to the hard work and dedication of our employees, suppliers and dealers, all of whom are helping Chrysler create a new corporate culture built on the quality of our products and processes, and simple, sound management principles,” he continued.

Then last week, in conjunction with a visit by U.S. Treasury Secretary Tim Geithner at the company’s Jefferson North (Detroit) Assembly Plant, Chrysler announced that it will repay its U.S. Treasury, Canadian Federal and Ontario aid loans this quarter.

The automaker will achieve this by refinancing that debt in a new term loan facility and through a private offering of newly issued debt securities to institutional investors.

The offering will be exempt from registration under the U.S. Securities Act of 1933.

Chrysler said it will use the proceeds of that offering — plus the gains from Fiat’s plans to purchase an incremental ownership interest in the automaker — to completely pay down its debt to the aforementioned U.S. and Canadian governments and take care of the related fees and expenses.

Chrysler intends for the offering’s completion, the credit facilities and Fiat’s equity investment under its call option to happen simultaneously.