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Old 03-13-2006, 10:46   #1 (permalink)
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US:Fitch cuts Ford's ratings deeper into junk status

Fitch cuts Ford's ratings deeper into junk status

Reuters

NEW YORK -- Fitch Ratings on Monday cut its ratings on Ford Motor Co. deeper into junk status, citing increased potential for strikes and supply disruptions at the automakers' parts suppliers.

With a number of major suppliers in bankruptcy and the industry as a whole suffering financial stress, it will be difficult for Ford to reduce costs in this area, Fitch said in a statement. Coupled with other pressures on Ford's profit margins, supplier troubles will challenge Ford's ability to stabilize cash flows, the rating agency said.

Fitch cut the long-term ratings on Ford and its finance arm Ford Motor Credit Co. by one notch to "BB," two steps below investment grade, from "BB-plus." The outlook is negative, meaning another rating downgrade is likely over the next two years.
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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.....
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