Fitch: Ford unaffected

The pending agreement between Ford and Visteon, if completed as outlined, does not have implications for Fitch's ratings for Ford Motor Co. or its affiliates, Fitch Rating said.

The significant financial burden associated with the restructuring will fall on Ford with the costs of the restructuring to be spread out over many years.

Extensive cash holdings at Ford, potentially supplemented by proceeds from the sale of Hertz, provide Ford with more than sufficient liquidity to absorb the costs related to these outflows, Fitch said.

Fitch said the ability of Ford to accelerate the restructuring of Visteon should, over time, lead to improvement in this portion of Ford's cost position.

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