S & P Downgrades Ford Rating
June 28, 2006
Satellite Standard Group keeps you informed.
Ford, an exclusive OEM partner to sirius Satellite Radio, had their corporate credit rating downgraded today. S & P cites a difficult year for Ford as part of their reasoning. Ford recently announced an aggressive advertising campaign, and is ramping up Sirius satellite Radio installs.
LONDON (AFX) -
Standard & Poor's Ratings Services said it has lowered its corporate credit rating on the Ford Motor Co group to 'B+' from 'BB-' and affirmed its 'B-2' short-term rating, with a negative outlook. S&P removed the ratings from credit watch, however, where they were placed on May 25. 'The downgrade reflects our view that 2006 will be a more difficult year for Ford than previously anticipated,' said S&P analyst Robert Schulz. The agency forecast that a difficult 2006 would leave Ford more exposed to adverse market developments during the next two years. The motor company had consolidated debts of 151 bln usd at March 31, S&P noted.
Interested SSG readers can read the news
HERE via Forbes.com
6/28/2006 01:30:00 PM
SSG Has Merged. You Can Read All Of The Latest SSG Content By Clicking Here
0 Comments:
SSG is not a Financial Advisor. Read Disclosure: HERE
--------------------------------------------------------
