S&P keeps Ford on watch

Standard & Poor's said its ratings on Ford Motor Co. and Ford Motor Credit Co., including the B- corporate credit ratings, remain on CreditWatch with negative implications following Ford's report of very weak third-quarter financial results.

The ratings were placed on CreditWatch on Oct. 9, reflecting S&P's concern that deteriorating automotive markets in the U.S. and other major markets would lead to accelerating cash losses.

The agency said that Ford's liquidity is still adequate for now, but S&P remains concerned about the company's ability to maintain sufficient liquidity through 2009 given the magnitude of its cash outflows.

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