News Formal

Ford's return to investment-grade status has pulled about $67 billion out of the junk-bond market

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 97%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

S&P followed Fitch in restoring Ford to investment grade this week

Ford Motor Co.’s return to the investment-grade market has removed billions of dollars from the high-yield market in a single day.

That comes after S&P Global Ratings upgraded Ford Motor Co.’s rating to BBB- late Monday, restoring it to investment grade after it was lowered into junk in 2020. Ford Credit, the company’s finance arm, was not included in the upgrade. S&P’s move coming right after weaker-than-expected quarterly earnings and uncertainty about its recent deal with the UAW surprised investors.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

S&P Global upgrades Ford’s rating and restores it to investment gradeCiara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.
Source: MarketWatch - 🏆 3. / 97 Read more »

Ford Motor's credit restored to investment grade after S&P upgradeFord bonds see selling as they are no longer eligible to be included in high-yield bond funds
Source: MarketWatch - 🏆 3. / 97 Read more »