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S&P Credit Research819 word report
published Mar 23, 2009
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S&P Credit Research
| Abstract: | NEW YORK (Standard&Poor's) March 23, 2009--Standard&Poor's Ratings Services today said that its corporate credit rating and other ratings on Ford Motor Co. (CC/Negative/--) are not immediately affected by Ford's status update on recent debt tender offers. The offers for Ford debt are being conducted by Ford Motor Credit Co. (Ford Credit), with the exception of a conversion offer for convertible notes, which is being conducted by Ford. The counterparty credit ratings and issue-level ratings on Ford Credit (CCC+/Negative/--) and FCE Bank PLC (B-/Negative/--) remain unchanged. We consider the pending tender offers as distressed exchanges and, as such, tantamount to a default under our criteria. Upon completion of the first tender offer--which we believe will be the
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| Brief Excerpt: | RESEARCH Ratings Definitions Bulletin: Ford Motor Co. Provides Status Update On Debt Exchanges; Ratings Unaffected For Now Publication date: 23-Mar-2009 Primary Credit Analysts: Robert Schulz, CFA, New York (1) 212-438-7808; robert_schulz@standardandpoo...
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| Report Type: | Bulletin
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| Ticker: | F
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| Issuer: | Ford Motor Co.
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| GICS: | Automobile Manufacturers (25102010)
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| Sector: | Asset-Backed Commercial Paper, Asset-Backed Securities, Automotive, Capital Goods, Collateralized Debt Obligations, Corporations, Financial Institutions, Global Issuers, Structured Finance
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| Country: | United States
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| Region: | United States
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
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