Moody's upgraded Ford's credit rating to investment grade today, the final step for the company to be able to reclaim its Blue Oval. Ford had offered its globally recognized trademark as part of a 2006 loan package. According to the Detroit Free Press, the collateralized logo and the rest of Fod's assets and intellectual property would not return to the automaker until it achieved an investment-grade credit rating with at least two of the three major agencies. Last month, Ford's credit was upgra
No doubt Ford has seen the light shining at the end of its turnaround plan for a while, but now The Blue Oval is getting so close to the daylight it might even be able to smell the fresh air. By the end of 2005, Ford bonds were rated so low by the three major ratings agencies they was floating in the cistern below the basement of junk status. After Mulally came onboard, the company put up everything to get the money to work his plan, from the company logo to its real estate. In order to get it b
Moody's Investors Services, a credit rating agency that performs international financial research and analysis on commercial and government entities, has boosted its outlook for the global integrated oil and gas sectors from "stable" to "positive." In a report released on April 5th, the credit rating agency cited the idea that soaring oil prices will "remain strong well into 2012" as one of the factors that contributed to the ratings change. Moody's report states:
Moody's Investor Services has lowered its credit rating for Toyota from the top-level Aaa to Aa1 and given it a "negative" outlook. Toyota had maintained Aaa status since 2003. The automaker, recently crowned as the largest in the world, is currently dealing with what must be the worst crisis that the Japanese company has ever faced since its inception in 1937. In what is decidedly uncharted territory at Toyota, the automaker saw its global sales fall by 4% last year and it is widely expected to
Credit rating agency Moody's is said to be considering another downgrade of General Motors' debt rating, which is already languishing six levels below junk-bond level. The potential move is said to be a reaction to GM's latest move to replace a $5.6B line of credit, which may require GM to pledge some of its assets to secure. Such a move would result in fewer assets available to unsecured creditors in the event of a bankruptcy.