Ford’s Debt Rating Downgraded by Moody’s
From the Associated Press
Moody’s Investors Service Inc. lowered Ford Motor Co.’s debt rating further into junk status, saying the market shift from big SUVs to cars was hurting the company’s prospects for recovery.
Moody’s lowered Ford’s rating to B2 from Ba3. It also lowered the long-term credit rating of the company’s finance arm, Ford Motor Credit Co., to Ba3 from Ba2.
Separately, Ford won approval from a U.S. court to implement a healthcare agreement with the United Auto Workers union that will save the company $850 million a year.
