Ford has said that it is disappointed with the debt ratings cut by Moody’s Investors Service.
“While we are disappointed, we appreciate that Moody’s recognizes that there has been significant progress at Ford Motor Company and we see the challenges they cited,” Ford’s Chief Financial Officer Don Leclair said in a statement reported by Reuters.
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Moody’s Investors Service cut Ford’s debt ratings on Thursday, but left them at investment-grade status.
The ratings cut, just days after Standard & Poor’s slashed Ford’s ratings to junk territory, were not as bad as some investors feared. It means that Ford’s bonds will stay in some widely followed credit indices, preventing the forced selling that could have been triggered by a second cut to junk, Reuters said.
