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BULLETIN: Ford Motor Co. Ratings Unaffected By Agreement To Reassume Control Of Visteon Corp. May 05
Standard & Poors, May 2005
Abstract
NEW YORK (Standard & Poor's) May 25, 2005--Standard & Poor's Ratings Services said today that the ratings and outlook on Ford Motor Co. (BB+/Negative/B-1) are not directly affected by the announcement that Ford has executed a memorandum of understanding with key supplier and former unit Visteon Corp. to reassume operational and financial control of most of Visteon's North American operations. The preliminary agreement between the two companies is consistent with assumptions reflected in our recent lowering of Ford's ratings on May 5. The understanding highlights Ford's need to protect a crucial portion of its supply of parts and components while these operations are being significantly restructured and to protect its United Autoworkers (UAW) employees who have been leased to Visteon....
Companies mentioned in this report are: Ford Motor Co.,Visteon Corp.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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