Fitch Ratings announced yesterday that it has cut its ratings on Ford even further into junk status. The ratings firm cites the obvious elephant in the room as justification: the potential for parts suppliers to cause a disruption in manufacturing and the even larger threat of union strikes is growing by the day.

Though Ford’s recovery plan announced in January is meant to help the big Blue Oval reduce its cost structure and offset its dwindling marketshare, all might be for naught if a union goes on strike at one of the nation’s bankrupt parts suppliers and halts production at a number of Ford plants.

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