Research Update: Ford Motor Co. Corporate Credit Rating Lowered To 'CC' On Distressed Debt Exchange; Outlook Negative - S&P Global Ratings’ Credit Research

Research Update: Ford Motor Co. Corporate Credit Rating Lowered To 'CC' On Distressed Debt Exchange; Outlook Negative

Research Update: Ford Motor Co. Corporate Credit Rating Lowered To 'CC' On Distressed Debt Exchange; Outlook Negative - S&P Global Ratings’ Credit Research
Research Update: Ford Motor Co. Corporate Credit Rating Lowered To 'CC' On Distressed Debt Exchange; Outlook Negative
Published Mar 04, 2009
1383 words — Published Mar 04, 2009
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

On March 4, 2009, Standard&Poor's Ratings Services lowered its corporate credit rating on Ford Motor Co. to 'CC' from 'CCC+'. We also lowered the issue-level ratings on the company's senior secured term loan, senior unsecured debt, and subordinated debt, while leaving the issue-level rating on Ford's senior secured revolving credit facility unchanged (see list below). In addition, the counterparty credit ratings and issue-level ratings on Ford Motor Credit Co. (Ford Credit) and FCE Bank PLC remain unchanged. The outlooks on Ford and Ford Credit are negative. The downgrades on Ford follow the company's announcement today of a debt restructuring, which we consider to be a distressed exchange and, as such, tantamount to a default under our criteria. Under

  
Brief Excerpt:

RESEARCH Research Update: Ford Motor Co. Corporate Credit Rating Lowered To '##' On Distressed Debt Exchange; Outlook Negative Publication date: 04-Mar-2009 Primary Credit Analysts: Robert Schulz, CFA, New York (1) 212-438-7808; robert_schulz@standardan...

  
Report Type:

Research Update

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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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Ford Motor Co. Corporate Credit Rating Lowered To 'CC' On Distressed Debt Exchange; Outlook Negative" Mar 04, 2009. Alacra Store. May 14, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Ford-Motor-Co-Corporate-Credit-Rating-Lowered-To-CC-On-Distressed-Debt-Exchange-Outlook-Negative-706771>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Ford Motor Co. Corporate Credit Rating Lowered To 'CC' On Distressed Debt Exchange; Outlook Negative Mar 04, 2009. New York, NY: Alacra Store. Retrieved May 14, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Ford-Motor-Co-Corporate-Credit-Rating-Lowered-To-CC-On-Distressed-Debt-Exchange-Outlook-Negative-706771>
  
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