US:Ford plants' loss may impact $320 million in cities' bonds - Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars
Ford Forum Ford Forum

» Auto Insurance
» Featured Product
ยป Wheel & Tire Center

Go Back   Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars > Fordforums Community > Latest Ford News and Racing News > Ford Worldwide News
Register Home Forum Active Topics Photo Gallery Auto Loans Garage Mark Forums Read Auto Escrow

FordForums.com is the premier Ford Forum on the internet. Registered Users do not see the above ads.
Reply
 
LinkBack Thread Tools Display Modes
Old 01-31-2006, 05:40   #1 (permalink)
Registered User
 
Stacy94PGT's Avatar
 
Join Date: Feb 2001
Location: The Hills of North Georgia,USA
Posts: 7,859
US:Ford plants' loss may impact $320 million in cities' bonds

Ford plants' loss may impact $320 million in cities' bonds

From Bloomberg News

Ford Motor Co.'s plan to close four U.S. factories by 2008 may affect $320 million of municipal bonds issued by cities and school districts near those facilities, Moody's Investors Service said in a report.

In addition to the one in Wixom, the plants slated to close are near Batavia, Ohio; St. Louis and Atlanta. The plants, among 14 that Ford said it would close over the next six years, employ about 6,740 people, Moody's said.

For now, Moody's is maintaining the current credit rankings of Wixom. Ratings will hinge on how the loss of jobs and tax revenue is weathered.

Ford said on Jan. 23 it plans to close 14 factories in North America and eliminate as many as 30,000 jobs over six years to try to stem losses at the Dearborn-based automaker. Ford also is to close a plant in Windsor, Ontario, and has yet to identify the nine additional plants to close.

A change in rating, according to Moody's, would affect $31.8 million of bonds issued by Wixom.
__________________
Stacy94PGT
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.....
Stacy94PGT is offline   Reply With Quote
Sponsored Links
Advertisement
 
Reply

  Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars > Fordforums Community > Latest Ford News and Racing News > Ford Worldwide News



Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Powered by vBadvanced CMPS v3.2.2

All times are GMT -7. The time now is 07:46.



Powered by vBulletin® Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.6.0
Garage Plus vBulletin Plugins by Drive Thru Online, Inc.