Ford yanked to junk by Moody’s, sounding alarm to triple-B crowd

Alex Radford,

Karoliina Liimatainen

September 12, 2019 08:00 pm

Ford badge 230x — The reflection of a Ford Five Hundred is shown on the tail gate and badge of a F-150 truck at Bob Maxey Ford in Detroit, Tuesday, July 19, 2005. Ford Motor Co. said its profit fell 19 percent in the second quarter from a year ago, stung by lower production and intense competition in North America, where it lost more than $900 million. (AP Photo/Paul Sancya) | PAUL SANCYA/AP/Press Association Images

Moody’s slashed Ford’s rating from Baa3 to Ba1 on Monday, placing the company in precarious crossover territory, with S&P and Fitch holding the firm at BBB with negative outlook. Other falling angels may land in the junkyard soon as the triple-B sector has ballooned to record levels.

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AR

Alex Radford

KL

Karoliina Liimatainen