- Moody’s downgraded Ford to one notch above junk bond status Wednesday.
- The company’s debt rating could be cut even further, to non-investment grade, by the middle of next year if it doesn’t make “clear progress” on its turnaround plan.
- Ford is investing an estimated $11 billion in a turnaround plan over the next several years.
Moody’s downgraded Ford‘s credit rating to one notch above junk bond status Wednesday and warned that it could be further cut as the Detroit automaker struggles overseas and invests an estimated $11 billion on a turnaround plan.
The second-largest U.S. auto manufacturer is facing weakening profit margins in North America, a retrenching business in China, and losses in South America and Europe, at least some of which could continue to worsen, Moody’s said in a research note.
The investments are necessary, but it will take several years before that translates to better performance, Moody’s said.
“Success could be challenged by having to address the serious performance problems in multiple business units simultaneously,” Moody’s said, adding that it was keeping a negative outlook on its credit rating “primarily based on the difficult changes the automaker will have to make.”
- Why Are So Many Extremely Bizarre “Mystery Creatures” Starting To Appear All Over The Planet?
- Heartaches On Heartaches! US Court Ruling May Take 70,000 Truckers Off Road, Spur Jams (Diesel Prices UP 118% Under Biden, Things Just Keep Getting Worse)
- School board meeting: Superintendent slips up and says what he shouldn’t.
- BANK SCAM in CHINA – $6 Billion In Deposits Vanished From Banks in China. 400k People Are Left with Nothing
- We Are Witnessing A Stunning Breakdown Of Law And Order, And The Overwhelmed Police Seem Powerless To Stop It
- Future is bleak. Lmfao
- Biden’s “Liberal World Order” summarized
- Liberal colonizer gets owned. Two dumb imbeciles arguing.
- Dr. Jordan Peterson tears woke Twitter admins a new one…
- The Government’s OWN Data Tells Us an Economic Collapse is Underway!