Ford reported a first-quarter profit, including a pretax margin of 8.9% in its North American automotive operations and positive operating cash flow from its global automotive operations. Still, future profitability will be influenced partly by industry demand and intense competition, both of which are beyond Ford's control. We are revising our outlook on Ford and its subsidiaries to positive from stable, indicating that there is more than a one-in-three chance that we could raise the ratings during the next year. We are also affirming the ratings on Ford and its subsidiaries, including the 'B-' corporate credit rating. NEW YORK (Standard&Poor's) April 28, 2010--Standard&Poor's Ratings Services today said it has revised its outlook on Ford Motor Co.
