Fitch lifts Ford

Fitch Ratings said it upgraded the issuer default rating for Ford Motor Co. and Ford Motor Credit Co. to B- from CCC while the outlook remains positive.

The upgrade is based on an improved macroeconomic environment, Ford's current cost/pricing/margin trends, product competitiveness, solid near-term product pipeline, liquidity position and cashflow prospects, the agency noted.

Fitch said it expects that Ford will turn cashflow positive in 2010 as an improving economic outlook and stabilizing retail financing availability allow the U.S. market to achieve an annualized run-rate of more than 11.5 million units in the second half of 2010.

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