Canada:Ford suspends note sales in Canada
Ford suspends note sales in Canada
Globe and Mail update
Ford Motor Co. said Thursday that Ford Credit Canada Ltd., the financing arm of Ford Motor Co. of Canada Ltd., “has suspended offering its medium term notes in Canada until further notice” amid concern the notes could lose their investment-grade status.
The notes were being issued to the public under a short form prospectus dated Dec. 16, 2004, filed with Canadian securities regulators.
Ontario Securities Commission regulations prevent companies that may lose their investment-grade status from selling notes under the short-form prospectus system, which speeds up the regulatory review process in raising capital. Credit-rating agencies have placed Ford under review with a possible downgrade to high-yield or junk bond status.
About $2-billion has been raised during the past two years under the program, a Ford spokeswoman said.
Ford Credit Canada will continue to offer debt securities under its euro medium-term note program and its commercial paper program, the company said.
My first car was a 67 Mustang Coupe, 2nd one was a 67 Cougar XR-7, 3rd one was a 66 Mustang Coupe. Why did I get rid of these cars for ? I know why, because I'm stupid, stupid, stupid.
My next Ford.....