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Bulletin: Ford Rating Unaffected By Sale Of Jaguar And Land Rover To Tata

Published Mar 26, 2008

441 words — Published Mar 26, 2008

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Abstract:

NEW YORK (Standard&Poor's) March 26, 2008--Standard&Poor's Ratings Services said today that the ratings and outlook on Ford Motor Co. (Ford) and Ford Motor Credit Co. (both rated B/Stable/B-3) were not affected by Ford's announcement of an agreement to sell its Jaguar and Land Rover units to Tata Motors Ltd. (BB+/Watch Neg/--) for $2.3 billion (before $600 million of pension contributions by Ford for Jaguar-Land Rover). The sale will bolster Ford's adequate liquidity. As of Dec. 31, 2007, cash and marketable securities totaled $32.7 billion, and the company had an $11.5 billion secured revolving credit facility with $10.9 billion available for use. There are no financial maintenance covenants on this facility other than a borrowing-base calculation, which

Brief Excerpt:

RESEARCH Bulletin: Ford Rating Unaffected By Sale Of Jaguar And Land Rover To Tata Publication date: 26-Mar-2008 Primary Credit Analyst: Robert Schulz, CFA, New York (1) 212-438-7808; robert_schulz@standardandpoors.com Secondary Credit...

Report Type:

Bulletin

Ticker

Issuer

Ford Motor Co.

GICS

Automobile Manufacturers (25102010)

Sector

Global Issuers , Structured Finance

Country

United States

Region

United States

Format:

HTML

Summary: Ford Motor Co. – 2008/04/28 – US$ 225.00

Ford Motor Co. Outlook Revised To Negative On Lower Cash Flow Guidance; 'B' Rating Affirmed – 2008/05/22 – US$ 150.00

Research Update: Ford Motor Co. Outlook Revised To Negative On Worsening Cash Flow Guidance – 2008/05/22 – US$ 225.00

Research Update: Ford Motor Co., Ford Credit Ratings On Watch Negative On Weakening U.S. Auto Market Conditions – 2008/06/20 – US$ 225.00

Ratings On Various Ford-Related Transactions Placed On CreditWatch Negative – 2008/07/02 – US$ 150.00

Summary: Ford Motor Co. – 2008/03/13 – US$ 225.00

Ford Motor Co. 'B' Rating Off Watch; Outlook Stable On Ratification Of UAW Contract – 2007/11/19 – US$ 150.00

Research Update: Ford Motor 'B' Rating Off Watch; Outlook Stable After Review Of UAW Contract, Other Factors – 2007/11/19 – US$ 225.00

Ford 'B' Rating Stays On Watch Pos After Report Of Lower 3Q Loss; Rating Likely To Be Affirmed – 2007/11/09 – US$ 150.00

Research Update: Ford 'B' Rating Stays On Watch Pos After Report Of Lower 3Q Loss; Rating Likely To Be Affirmed – 2007/11/09 – US$ 225.00

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MLA:	S&P Global Ratings’ Credit Research. "Bulletin: Ford Rating Unaffected By Sale Of Jaguar And Land Rover To Tata" Mar 26, 2008. Alacra Store. May 15, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Ford-Rating-Unaffected-By-Sale-Of-Jaguar-And-Land-Rover-To-Tata-638941>

APA:	S&P Global Ratings’ Credit Research. (). Bulletin: Ford Rating Unaffected By Sale Of Jaguar And Land Rover To Tata Mar 26, 2008. New York, NY: Alacra Store. Retrieved May 15, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Ford-Rating-Unaffected-By-Sale-Of-Jaguar-And-Land-Rover-To-Tata-638941>

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