Ford Motors (Photo : REUTERS)
Ford Motors on Tuesday received its investment grade credit rating which has allowed the second largest U.S. automaker to reclaim its Blue Oval insignia and other assets it mortgaged in 2006 to fund its turnaround plans.
Moody's Investor Service credited the world class automaker with Ba2 from its previous standing in the Baa3, which has allowed speculations that Ford Motors will improvise in the future without facing a down turns. Moody's also predicts on Ford Motors that within next year it will be rated in Ba1 credit rating considering the value and serious expansion plans of the second largest automaker in the U.S. The ratings from Moody's investor Service comes at a crucial time for the Ford Motors.
Like Us on Facebook
Ford Motors had lost its credit rating and fell completely out of all the first three sections when it had borrowed $23.5 billion to fund its restructuring plans. Ford Motors continued to use the Blue Oval icon and other assets. After the announcement of its credit ratings, now all the vehicles of Ford Motors will carry the stamp of Blue Oval on its official grill. Since the U.S. automaker has been highly rated and given credit ratings by two of the major investment services, now the Ford Motors will once again own those assets.
Commenting on the credit rating announcements, Bill Ford Jr. said that Tuesday is one of the most important days in his life. He added further that the staff and executives of Ford Motors feel immensely happy for the success in getting its due credit back after six years. Speaking to reporters, Bill Ford Jr shared his happiness for reclaiming the lost glory. He said that Tuesday is a day to remember and cherish in his life and he couldn't be happy without thanking the Ford Motors family.