Moody Boosts Ford’s Credit Rating to Investment Grade
Ford still isn’t among the most profitable automakers in America, but the fact that they avoided bankruptcy on their own and staved off an industry-wide collapse back in 2008 means they can adapt to new market environments.
"The Ford Blue Oval is back where it belongs with the Ford family of 166,000 employees around the world," Bill Ford Jr., executive chairman of the automaker, said in a statement. "This is a great day for us and is the result of several years of hard work and progress by everyone associated with Ford."
“When we pledged the Ford Blue Oval as part of the loan package, we were not just pledging an asset. We pledged our heritage. The Ford Blue Oval is one of the most recognized symbols in the world, and it is a source of great pride and passion, both inside and outside our company. Getting the Ford Blue Oval back feels amazing, and it is one of the best days that I can remember,” Bill Ford Jr added.
“We are so proud of today’s decision by Moody’s and the resulting release of all collateral – particularly the Ford Blue Oval. This is an important milestone and further proof that, by staying laser-focused on our One Ford plan, the Ford team can deliver great products, build a strong business and contribute to a better world even through the most challenging external environment,” says Ford Motor Company president and CEO Alan Mulally.