...Ford Motor Company's ratings continue to be supported by the automaker's strong liquidity position and relatively low financial leverage, which provide the company with good financial flexibility, despite recent commodity cost pressures and significant investments in electrification and new mobility technologies. In addition, the ratings reflect Fitch Ratings' expectations for improved profitability and FCF generation over the intermediate term as the company's aggressive plans to cut costs and improve returns on invested capital gain traction. Ford has identified over $25 billion in cumulative cost savings that it is targeting through 2022. The ratings also incorporate Fitch's expectation that the company's credit profile will strengthen over the intermediate term as the company repays maturing debt obligations with cash and as earnings and FCF rise....
