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Article: Company Lowers Ford Credit Rating
- Article from:
- AP Online
- Article date:
- January 12, 2002
- Author:
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Title: Company Lowers Ford Credit Rating
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DETROIT (AP) _ The restructuring plan Ford Motor Co. announced Friday
was not well received by three credit rating companies.
Fitch Inc. downgraded the senior debt rating for Ford, Ford Motor
Credit Co., and Hertz to BBB+ from A-, and Ford's preferred securities
to BBB- from BBB+. Both Standard & Poor's and Moody's Investors Service
put Ford on notice that its credit ratings from those two companies
could be downgraded as well.
"The bulk of the benefits from the company's cost reduction program
will not occur over the next several years, and full realization of
the program's benefits will be largely ...