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Ford to "get Blue Oval back", Credit rating raised allows return of mortgage assets


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Highlights from AP copy:

 

DETROIT (AP) - Ford Motor Co. is getting its blue oval logo back.

 

Moody's Investors Service raised Ford's debt ratings to investment-grade Tuesday for the first time in seven years.

 

The move paves the way for Ford to get back assets it used as collateral in 2006 in order to get a $23.5 billion restructuring loan, including the logo.

 

Ford needed two ratings agencies to upgrade it to investment grade to get its assets back. Fitch Ratings upgraded the company last month.

 

MarketWatch:

SAN FRANCISCO (MarketWatch) -- Moody's Investor Services raised its credit rating and outlook on Ford Motor Co. /quotes/zigman/264304/quotes/nls/f F 0.00% Tuesday, citing the car maker's strength in North America, strong liquidity, and sound financial discipline. The move lifts the rating on Ford's senior unsecured debt to Baa3 from Ba2. It also raises Ford Motor Credit Co's credit rating to Baa3 from Ba1. At the same time, Moody's said it dropped its speculative grade liquidity rating on the company. Moody's left unchanged its "stable" rating outlook for Ford and Ford Credit. "The key factor in our considering an investment-grade rating for Ford was whether or not the company would be able to sustain its strong performance. We concluded that the improvements Ford has made are likely to be lasting," Moody's Senior Vice President Brian Clark said. Ford shares slipped one cent Tuesday to $10.19.

 

http://www.marketwatch.com/story/moodys-lifts-ford-motor-credit-rating-to-baa3-2012-05-22

Edited by PREMiERdrum
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Did you know Dan's brother operated on my sister once? It's true.

 

Anyway, this should also reduce Ford Credit's funding costs, which may mean better lease and loan packages.

 

Which is good news, for those of us who are officially in the market. (Operation: New Explorer officially kicked off this week.)

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It's really only psychological, but I was so, so happy to get the tweet on this earlier today. It sincerely gave a feel-good feeling (huh? well, whatever) inside: A company did it right and succeeded. Sure, people lost jobs. Sure there was pain. But those were happening no matter what--Ford as it existed in 2008 was built for a different time: Different workloads, different volumes.

 

The people employed today have more secure jobs and a better future because of the short-term pain. I'm proud of what Ford's done and proud to drive one to work everyday. Welcome back, Blue Oval!

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It's really only psychological, but I was so, so happy to get the tweet on this earlier today. It sincerely gave a feel-good feeling (huh? well, whatever) inside: A company did it right and succeeded. Sure, people lost jobs. Sure there was pain. But those were happening no matter what--Ford as it existed in 2008 was built for a different time: Different workloads, different volumes.

 

The people employed today have more secure jobs and a better future because of the short-term pain. I'm proud of what Ford's done and proud to drive one to work everyday. Welcome back, Blue Oval!

 

On the news over loudspeaker, Ford employees working at Headquarters building went onto lawn out front and made huge Ford oval logo. This news will have lots of positives for Ford going forward. Ford worked long and hard for this day, and it finally came. Good-bye junkyard status.

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Here's the human logo:

 

FRD2012052261289_PV.jpg

seriously, hard not to feel pride to an extent, after all the bashing ford took ( basically being hauled into the bailout debaucle courtesy of the OTHER two domestics ) and somewhat being viewed with the same taxpayer ire...this news slaps the negatards pretty hard. Good job Ford. Now Im going to sit back and see Lincoln rise from its so called ashes ...
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seriously, hard not to feel pride to an extent, after all the bashing ford took ( basically being hauled into the bailout debaucle courtesy of the OTHER two domestics ) and somewhat being viewed with the same taxpayer ire...this news slaps the negatards pretty hard. Good job Ford. Now Im going to sit back and see Lincoln rise from its so called ashes ...

It won't need to rise from ashes. The "holy water" that was sprinkled on it put that fire out.

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