Ford-UAW Deal Clears Path to Credit Upgrades Within Junk Status
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Ford Motor Co.’s U.S. hourly workers ratified a new four-year contract that probably will lead to credit-rating upgrades. A return to investment-grade status may still be a 2012 event.
Ford workers voted 63 percent in favor of the agreement in balloting over the last two weeks, the United Auto Workers said yesterday in a statement. Standard & Poor’s and Moody’s Investors Service have said they are reviewing their credit ratings on the Dearborn, Michigan-based automaker, which fell to so-called junk status six years ago.