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Ford Motor Co. Message Board

  • electro999 electro999 Apr 14, 2009 3:48 PM Flag

    ford bonds up sharply...

    SmarTrend® News Watch: Ford's Bonds Reach Highest Levels In Seven Months

    A day after Standard & Poor's raised its credit rating on Ford (NYSE:F) to CCC+, from selective default (SD), following news that it had reduced its debt by $9.9 billion, the embattled automaker's bonds rose to their highest levels in almost seven months. According to the bond-price reporting system of the Financial Industry Regulatory Authority, Ford's bonds have risen 59% since March 5th. Ford is the only member of the 'Detroit Three' to forgo federal aid, which was required by General Motors (NYSE:GM) and Chrysler to continue its operations. The company said it reduced its outstanding debt by 38% through term loan and bond repurchases, and expects the cost reductions will save more than $500 million

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