DBRS changes Ford Motor view

DBRS said it changed the trend on Ford Motor Co.’s issuer rating to stable from negative and confirmed the rating at BB (high).

DBRS also changed the trends to stable from negative for the instrument ratings on Ford’s long-term debt, revolving credit facility, and senior unsecured convertible debt and confirmed the ratings at BB (high) with associated recovery ratings of RR4.

Concurrently, DBRS changed the trends on the long-term debt ratings of Ford Motor Credit Co. LLC and its subsidiary Ford Credit Canada Co. to stable from negative.

The trends on the short-term ratings remain at stable as the R-4 rating maps consistently to long-term ratings ranging from BB (high) to B (high).

DBRS also confirmed the long-term and short-term ratings at BB (high) and R-4, respectively, of Ford Credit and Ford Credit Canada.

“The rating actions reflect Ford’s sound business risk assessment as a major global automotive original equipment manufacturer (OEM) with a notably strong competitive position in full-size pickup trucks,” the agency said in a news release.

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