On Nov. 5, 2007, Standard&Poor's Ratings Services said its 'B' long-term corporate credit rating on Ford Motor Co. and Ford Motor Credit Co. remains on CreditWatch with positive implications, following the agreement between Ford and the United Auto Workers (UAW) of a new labor contract. Ford's UAW workers are expected to vote on ratification of the contract in the coming days, and we expect the required approval level to be obtained. The rating was placed on CreditWatch on Sept. 26, 2007, based on our belief that Ford would reach a deal similar to the one General Motors Corp. reached with the UAW on that date. Ford's 'B-3' short-term rating was not on CreditWatch. We expect to view the
