Ford Downgraded to BBB- by Fitch, Investment-Grade Status Now in Peril
Ford Motor Company's (NYSE: F) credit rating was downgraded by Fitch Ratings on Monday, a move that puts Ford's hard-won investment-grade rating in peril.
Fitch cut Ford's credit rating by one notch, to BBB-, with a "negative" outlook. The rating applies to both Ford Motor Company itself as well as its financial-services subsidiary, Ford Credit. BBB- is the lowest level considered "investment grade."
Fitch said that the downgrade "reflects Fitch's significant concerns about the effect that the global coronavirus mitigation actions currently under way will have on the company's near-term financial performance and credit profile."
Source Fool.com
