Report title: Ford Motor Co. Corp. Credit Rating Lowered To 'SD' (Selective Default) On Completion Of Tender Offers; Debt Rtgs To 'D'
from S&P Credit Research
848 word report published Apr 06, 2009

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Abstract: NEW YORK (Standard&Poor's) April 6, 2009--Standard&Poor's Ratings Services today said it has lowered its corporate credit and other ratings on Ford Motor Co., reflecting the completion of tender offers for Ford debt. We lowered the corporate credit rating to 'SD' (selective default) and certain issue ratings to 'D'. The rating actions today are consistent with our previously published intentions. As we stated previously, we consider the completion of the tender offers to be distressed exchanges and, as such, are tantamount to defaults under our criteria. For further details, please see our bulletin of March 23, 2009, "Ford Motor Co. Provides Status Update On Debt Exchanges; Ratings Unaffected For Now." We expect to assign a new corporate

Brief Excerpt: RESEARCH Ratings Definitions Ford Motor Co. Corp. Credit Rating Lowered To '##' (Selective Default) On Completion Of Tender Offers; Debt Rtgs To 'D' Publication date: 06-Apr-2009 Primary Credit Analysts: Robert Schulz, CFA, New York...

Report Type: Ratings Action
Ticker: F
Issuer: Ford Motor Co.
GICS: Automobile Manufacturers (25102010)
Sector: Asset-Backed Commercial Paper, Asset-Backed Securities, Automotive, Capital Goods, Collateralized Debt Obligations, Corporations, Financial Institutions, Global Issuers, Structured Finance
Country: United States
Region: United States
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