No doubt Ford has seen the light shining at the end of its turnaround plan for a while, but now The Blue Oval is getting so close to the daylight it might even be able to smell the fresh air. By the end of 2005, Ford stock was rated so low by the three major ratings agencies that it was floating in the cistern above the basement of junk status. After Mulally came onboard, the company put up everything to get the money to work his plan, from the company logo to its real estate. In order to get it back, two of the three agencies need to rate Ford stock as investment grade, and one, Fitch, has just done so.
Autoblog, Ford no longer junk at Fitch as stock returns to investment grade
No comments:
Post a Comment