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S&P Bond Upgrades Top Downgrades as Cash Swells: Credit Markets

More U.S. companies had their credit ratings boosted by Standard & Poor’s this year than saw them cut for the first time since 1997 as borrowers increased profits and stockpiled cash.

Ford Motor Co., the world’s most profitable automaker, and San Jose, California-based EBay Inc. were upgraded by S&P along with 756 others, compared with 722 downgrades, according to data compiled by Bloomberg. In 2009, S&P slashed corporate debt grades more than three times as often as it raised them, the data show.