S&P: Ford on watch

Standard & Poor's said it placed its BB+ long-term and B-1 short-term ratings on Ford Motor Co., Ford Motor Credit Co. and all related entities on CreditWatch with negative implications.

S&P said the CreditWatch placement reflects increased concerns about Ford's ability to effect a turnaround at its troubled North American automotive operations amid sharply deteriorating product mix and sales volume, and prospects for persisting severe pricing pressure.

The agency noted it currently plans to resolve this review by mid-January, following Ford's announcement of its fourth-quarter results and said it believes the rating is unlikely to be lowered below BB/B-2.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.