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Analysis and EditorialFord's Credit Rating Nears Junk
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Auto on Info November 2003 Ford's Credit Rating Nears Junk Standard and Poor's cut Ford Motor Company's credit rating to one notch above junk. Ford Motor Company didn't like it and had quite a laundry list as to why it didn't deserve it. Standard and Poor's had issued a CreditWatch in October; this usually signals that a change is forthcoming. It may well be that for General Motors to survive, Ford cannot, and betting on a smaller competitor is foolhardy; however, it should be noted that although Standard and Poor's may prefer General Motors over Ford, the marketplace, consisting of thousands of generally savvy investors, put GM and Ford on rather equal footing, with respective market capitalizations of $24 billion and $22 billion. By the marketplace, it appears which will survive is a toss-up. Source for market capitalizations: Business Week, November 17, 2003, page 117. |
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