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Ford’s credit outlook improves
Ford’s credit outlook improves
Posted Monday, Aug 3, 2009, 1:22 pm in Employee News
Credit rating service Standard & Poor’s changed its outlook on Ford Motor Co. to “developing” from “negative” last week, the Detroit Free Press reported.
“The outlook revision reflects early signs of progress by Ford in reducing cash use from its automotive operations and stabilizing, if not improving, its U.S. market share,” Standard & Poor’s credit analyst Robert Schulz said in a report.
Ford said it used $1.2 billion in cash in the second quarter, much lower than the $4 billion it used in the first quarter, the paper said. The ratings service affirmed its CCC+ rating on Ford, which is a non-investment grade, the story said. (Detroit Free Press)
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Rick
Nitro Year: 2007 (1 of 113,000 sold)
Nitro Model: R/T 4X4 Stone White
CAT-BACK Exhaust, CAI, Projector Head Lamps
Fully-Equipped w/all factory options
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