TEXT-S&P says Ford rtgs unaffected by Volvo sale agreement

Newswire

(The following statement was released by the rating agency) Dec 23 - Standard & Poor's Ratings Services said today that Ford Motor Co.'s (B-/Stable/NR) announcement that it has reached an agreement to sell its Volvo car unit to Zhejiang Geely Holding Group Co. Ltd. (unrated) will not affect the ratings on Ford and related entities. Ford said it anticipates signing a definitive sale agreement in first-quarter 2010, with closing in second-quarter 2010, and that it does not intend to ...

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