S&P: Ford unaffected

Standard & Poor's said the ratings and outlook on Ford Motor Co. are not directly affected by the announcement that Ford has executed a memorandum of understanding with Visteon Corp. to reassume operational and financial control of most of Visteon's North American operations.

S&P said its B- corporate credit rating on Visteon remains on CreditWatch, but the implications have been revised to positive from developing.

The preliminary agreement between the two companies is consistent with assumptions reflected in S&P's May 5 lowering of Ford's ratings.

The understanding highlights Ford's need to protect a crucial portion of its supply of parts and components.

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