Standard & Poor’s recent downgrade of Ford Motor Co.’s credit rating doesn’t “accurately reflect the state of our business,” says Don Leclair, Ford group vice president and chief financial officer. The S&P lowered Ford’s credit rating to BBB-/A-3 with a stable outlook. “We’re introducing great new products, we’ve exceeded our cost-cutting targets, our cash availability is outstanding and we are on track to achieve our financial milestones for 2003,” Leclair says in a prepared ...
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