Fitch Revises Rating Outlook On Ford (F) to Positive
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Fitch Ratings revised the Rating Outlook on Ford Motor Company (Ford) and Ford Motor Credit Company (Ford Credit) to Positive from Stable. Fitch has also affirmed the Issuer Default Rating (IDR) at 'CCC'.
The Positive Outlook reflects the better than expected progress on Ford's cost reduction program, production and inventory discipline that has resulted in solid pricing performance and continued market share gains. Although Fitch expects a weak rebound in industry sales in 2010, in part recognizing the
hangover from the Cash-for-Clunkers program, Fitch expects that cash drains will be materially reduced and comfortably within Ford's liquidity position.
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