Moody's rates Ford convertibles Ba2

Moody's Investors Service said it rated Ford Motor Co.'s $2 billion of senior unsecured convertible notes Ba2.

“All other ratings are unaffected, including Ba2 corporate family rating, ratings of Ford's supported subsidiaries and the SGL-1 speculative grade liquidity rating,” the agency said in a press release.

Proceeds will be used for general corporate purposes, including repaying debt.

The outlook is negative.

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