S&P puts Ford on watch

Standard & Poor's said it placed the B- long-term corporate credit rating on Ford Motor Co. on CreditWatch with negative implications.

The watch reflects the rapidly weakening state of most global automotive markets along with capital market conditions that will remain a major challenge for the foreseeable future, according to the agency.

The agency said it believes GM has adequate liquidity for at least the rest of 2008 as measured by cash balances and available bank facilities, but the accelerating deterioration in industry fundamentals will be a serious challenge to liquidity during 2009.

Included in the watch is Ford's finance unit, Ford Motor Credit Co. (B-/Watch negative).

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