S&P Cuts Credit Rating on Ford
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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