S&P cuts Ford's senior unsecured debt rating

Newswire

NEW YORK, Nov 27 (Reuters) - Standard & Poor's on Monday cut its senior unsecured debt rating on Ford Motor Co. , citing the automaker's plans to raise $18 billion in debt. Ford on Monday said the financing will help address negative operating cash flow, fund restructuring and boost liquidity. S&P lowered its rating two notches to 'CCC-plus,' its seventh lowest speculative grade rating, from 'B.' At the same time, S&P affirmed Ford's "B" corporate credit rating and other ...

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