News Formal

Ford Motor's credit restored to investment grade after S&P upgrade

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Ford bonds see selling as they are no longer eligible to be included in high-yield bond funds

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.

S&P also highlighted the company’s cash balance of about $29 billion as of Sept. 30, overall liquidity of about $51 billion, and said that gives it ample leeway to compete in its end markets. The agreement would increase top wages at Ford by more than 30% to more than $40 an hour and push up starting wages by 68% to over $28 an hour once cost-of-living adjustments are factored in, the union said last week. The deal ended a strike and sent Ford workers back to their jobs.

Trading over the last 10 days has been mixed, apart from the 7.32% notes that nature in 2030, which have been heavily sold.

 

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 NG

Nigeria Nigeria Latest News, Nigeria Nigeria 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 »