By Adam Tempkin NEW YORK, May 25 (IFR) - Ford is making history by launching the process to switch the capital market's first ABS-to-high-grade convertible bond to corporate debt from securitized form. The conversion of the deal, issued in 2011, was triggered this week by Moody's upgrade of Ford's corporate rating to investment-grade. The move followed a similar recent upgrade by Fitch. The mandatory exchange for holders of Ford's US$2.5bn in "FUEL" auto ABS notes into straight debt is ...
Premium Content (PAID Subscription Required)
"Ford upgrade triggers ABS-to-corporate debt conversion" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
Current subscribers, please login or CLICK for support information.