S&P cuts Ford to two notches above junk status

Newswire

NEW YORK, Oct 25 (Reuters) - Standard & Poor's cut its long-term credit ratings for Ford Motor Co. and its finance arm on Friday to two notches above "junk" status, saying it is concerned about the ultimate success of the No. 2 U.S. automaker's restructuring. S&P cut Ford's and Ford Motor Credit Co.'s long-term ratings one notch to "BBB," its second-lowest investment grade, from "BBB-plus." It affirmed their "A-2" short-term ratings. S&P's outlook is "negative," meaning another ...

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