UPDATE 1 - Fitch cuts Ford to junk status, outlook negative

Newswire

(Adds background, analyst comment) NEW YORK, Dec 19 (Reuters) - Fitch Ratings on Monday cut its ratings on Ford Motor Co. to junk status, the third of the three major rating agencies to strip the automaker of its investment-grade ratings. The downgrade reflects continuing market share losses, slumping sales of sport utility vehicles and competition at Ford's core North American auto operations, Fitch said. Ford's profit margins have been squeezed by fierce competition from foreign ...

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