DBRS details Ford upgrade

DBRS said it released details on its recent upgrade of Ford Motor Co.'s issuer rating to BB from BB (low) and senior secured credit facilities and long-term debt to BBB (low) and B (high), respectively.

According to the agency, the ratings upgrade reflects the company's continuously improving performance, with Ford becoming significantly profitable from 2010 through the first half of 2011.

Ford's progress in its core North American market has been impressive amid industry conditions that, while improved vis-à-vis the recent automotive downturn, remain well below historical norms, the agency noted.

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