Moody's affirms Ford

Moody's Investors Service said it affirmed the long- and short-term ratings of Ford's Motor Co. (Baa1 long-term), Ford Motor Credit Co. (A3 long-term and Prime-2 short-term) and Hertz Corp. (Baa2 long-term and Prime-2 short-term).

The outlook is negative.

The affirmation of the Ford ratings reflects Moody's view that the company has been relatively successful in implementing its revitalization plan since 2001 and that its competitive position, earnings and cash generation, while still weak, have improved in line with Moody's expectations.

Moody's said it anticipates that this second phase of the revitalization will further improve Ford's financial and operating performance.

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