US:Moody's may cut Ford's rating deeper into junk
Moody's may cut Ford's rating deeper into junk
NEW YORK -- Moody's Investors Service on Tuesday said it may cut its ratings on Ford Motor Co. deeper into junk territory, citing severe erosion in demand for the company's trucks and sport utility vehicles.
Moody's also said it may cut its ratings on Ford's finance arm, Ford Motor Credit, to junk status from investment grade. A downgrade to junk territory would eject Ford Credit from the widely followed Lehman Brothers credit index, limiting the investors who can buy its bonds and raising borrowing costs.
Most of Ford's debt is issued by Ford Credit.
Moody's rates Ford Motor Co. "Ba1," the highest junk rating. It rates Ford Motor Credit "Baa3," the lowest investment-grade rating.
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.....