By Richard Barley, Reuters
Ford Motor Credit Co., the finance arm of U.S. automaker Ford Motor Co., has no plans to change operations despite a recent warning its ratings may be cut to junk status, its Chief Financial Officer Dave Cosper said on Tuesday.
Cosper told Reuters on the sidelines of an investor conference in Amsterdam that Ford Motor Credit had not made any changes since Standard and Poor’s moved its outlook for the company to negative earlier this month in the wake of a hefty profit warning.
S&P currently rates Ford at BBB-, just one notch above junk status. The company had consolidated debt of $173 billion at the the end of 2004, the ratings agency said.
For this complete story, please visit Ford Credit Sees No Changes After Rating Warning.
