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Standard & Poor’s Raises Ford Motor to Highest Junk Level, Credit Watch Removed after No Cost Increase UAW Contract
Standard & Poor’s Ratings Services has raised its corporate credit rating on Ford Motor and Ford Motor Credit to ‘BB+’ from ‘BB-‘. This is just one notch below investment grade. Ford bonds have been appropriately rated as “junk” since 2005, … Continue reading →
Posted in auto news, economy, news analysis, results
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Tagged auto informed, auto news, autoinformed, autoinformed.com, automotive news, Ford, ford costs, ford credit ratings, ford uaw, junk bonds, Ken Zino, s&p, zino
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S&P Raises General Motors to Highest Junk Grade – BB+
The upgrade came one day after the GM’s 49,500 UAW employees ratified a new four-year contract that will not raise GM’s labor costs, and will provide bonuses based on profitability instead of automatic pay raises. GM at this time appears to have the lowest labor costs among the Detroit Three since both Ford Motor and Chrysler UAW contracts are unresolved. It’s ironic that it took a Democratic President to curb the union – in essence breaking it – under the forced bankruptcy reorganization of GM, which included a no strike clause – AutoCrat. Continue reading →
