S&P places Ford's and FMC's ratings on CreditWatch Negative
The following is a summary of a UBS full-length report on this topic, dated
October 4, 2005.
* S&P places F's and FMC's ratings on CreditWatch Negative:
S&P placed F's and FMC's BB+ ratings on CreditWatch with negative
implications due to concerns about rising energy prices, deteriorating
product mix and sales volume, declining SUV sales, and prospects for
continued pricing pressure.
* We maintain Market Perform on Ford:
We maintain a Market Perform on F with a 'BB+' rating and a
'Deteriorating' Credit Trend.
* Risk Tolerance is Key:
Investors should consider whether F/FMC bonds are appropriate investments
in light of their risk tolerance profile.
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