UPDATE 1-S&P cuts Ford to two notches above 'junk' status


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

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