Ford Motor Co.?s $2.5 Billion Sr. Convertible Notes Rated ?CCC? (Recovery Rating '6') - S&P Global Ratings’ Credit Research

Ford Motor Co.?s $2.5 Billion Sr. Convertible Notes Rated ?CCC? (Recovery Rating '6')

Ford Motor Co.?s $2.5 Billion Sr. Convertible Notes Rated ?CCC? (Recovery Rating '6') - S&P Global Ratings’ Credit Research
Ford Motor Co.?s $2.5 Billion Sr. Convertible Notes Rated ?CCC? (Recovery Rating '6')
Published Nov 06, 2009
Published Nov 06, 2009
Price US$ 150.00  |  Buy this Report Now

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Abstract:

NEW YORK (Standard&Poor's) Nov. 6, 2009--Standard&Poor's Ratings Services today said it has assigned its 'CCC' issue-level rating and '6' recovery rating to Ford Motor Co.'s $2.5 billion senior unsecured convertible notes due 2016. The '6' recovery rating indicates our expectation that lenders would receive negligible (0 to 10%) recovery in the event of a payment default. (For the complete recovery analysis, please see the recovery report on Ford, published Nov. 4, 2009, on RatingsDirect.) Underwriters of the offering have an option to increase the convertible note offering by $375 million. We expect Ford to use proceeds to improve liquidity, including paying down a portion of the $10.2 billion drawn under its secured revolving credit facility due

  
Report Type:

Ratings Action

Ticker
F
Issuer
Ford Motor Co.
GICS
Automobile Manufacturers (25102010)
Sector
Global Issuers , Structured Finance
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Ford Motor Co.?s $2.5 Billion Sr. Convertible Notes Rated ?CCC? (Recovery Rating '6')" Nov 06, 2009. Alacra Store. May 14, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Ford-Motor-Co-s-2-5-Billion-Sr-Convertible-Notes-Rated-CCC-Recovery-Rating-6-755719>
  
APA:
S&P Global Ratings’ Credit Research. (). Ford Motor Co.?s $2.5 Billion Sr. Convertible Notes Rated ?CCC? (Recovery Rating '6') Nov 06, 2009. New York, NY: Alacra Store. Retrieved May 14, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Ford-Motor-Co-s-2-5-Billion-Sr-Convertible-Notes-Rated-CCC-Recovery-Rating-6-755719>
  
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