Monday, June 12, 2006
Fords Credit Rating slashed - again !
Troubled US car giant Ford has yet again had its credit rating cut plunging it further into junk status.
Fitch Ratings said it had made the cut because it predicts Ford’s revenues will deteriorate further during the rest of the year.
In April Ford announced a $1.19bn (£629m) quarterly loss and has announced it is cutting 30,000 jobs and closing 14 plants by 2012 to reduce its costs.
DATED: 12.06.06
FEED: MT
Fitch Ratings said it had made the cut because it predicts Ford’s revenues will deteriorate further during the rest of the year.
In April Ford announced a $1.19bn (£629m) quarterly loss and has announced it is cutting 30,000 jobs and closing 14 plants by 2012 to reduce its costs.
DATED: 12.06.06
FEED: MT
