Fitch Restores Ford Credit to Investment Grade

By: The Associated Press Email

Posted: Tue 7:42 AM, Apr 24, 2012

DETROIT (AP) - Ford Motor Co. says its credit rating has been restored to investment grade by the Fitch Ratings agency.

The automaker's debt has been at junk status since 2005. The company had to mortgage its factories and other assets to borrow billions in order to stay out of bankruptcy.

Company spokesman Jay Cooney says Ford's assets will be released as collateral once a second ratings agency boosts the company's credit rating.

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Fitch Restores Ford Credit to Investment Grade

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