The day of Ford's annual shareholders meeting was shattered by further bad financial news. Moody's Investors Service cut Ford's long-term debt rating to its lowest investment-grade level – one grade above "junk" status. Moody's said the downgrade "reflects the fact that Ford likely won't achieve expected earnings of $4 billion in automotive profits in 2006 and hasn't kept its U.S. market share above 19.5 percent."

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