Italy's Fiat SpA denied on Friday it would assume any current or future debt from Chrysler LLC , the troubled U.S. car maker with which it plans to form a partnership.

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

On Thursday, Chrysler said Fiat would assume 35 percent of its debt to the U.S. government.

Fiat shares, which had been trading more than 4 percent lower early in the session, were off 2.6 percent at 4.59 euros.

(Reporting by Gilles Castonguay)

Chrysler