Fitch Ratings has lowered its long-term credit rating for Ford Motor Company one level, from BBB+ to BBB, while maintaining a negative outlook.
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The new rating is two levels above so-called “junk,” preserving investment grade status.
“While we’re disappointed, we appreciate that Fitch Ratings recognises our liquidity and substantial progress,” Ford responded in a statement.
“We recognise the challenges facing us and we are committed to overcoming them through the acceleration of our business plan.”
