NEW YORK (Standard&Poor's) Dec. 23, 2009--Standard&Poor's Ratings Services said today that Ford Motor Co.'s (B-/Stable/NR) announcement that it has reached an agreement to sell its Volvo car unit to Zhejiang Geely Holding Group Co. Ltd. (unrated) will not affect the ratings on Ford and related entities. Ford said it anticipates signing a definitive sale agreement in first-quarter 2010, with closing in second-quarter 2010, and that it does not intend to retain an equity stake in Volvo. Ford previously had said it was exploring a possible sale of its Volvo unit. Under the terms of Ford's credit agreement, Ford must use half of the proceeds from any Volvo sale to repay its secured term debt. We plan
