S&P Cuts Credit Rating on Ford

Analyst Scott Sprinzen lowers the rating to one notch above junk status, saying the auto maker's profitability and cash flow remain poor

On Nov. 12, Standard & Poor's Ratings Services lowered its credit ratings on Ford Motor (F ) and all related entities, including Ford Motor Credit and Hertz, to BBB-, one notch above junk status, from BBB. The short-term ratings were also lowered, to A-3 from A-2. The rating outlook is now stable. The Dearborn, Mich.-based auto maker had $180 billion of consolidated debt outstanding as of Sep. 30, 2003.

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