Ford earnings revision threatens downgrade
Analysts believe the carmaker is in danger of slipping into speculative-grade territory
After weeks of credit market consternation over the sorry financial picture at General Motors, Ford Motor Company gave investors further cause for concern in April with a $900 million downward revision to its earnings expectations for 2005. The carmaker blamed higher gas prices, higher health-care costs and higher steel prices for the adjustment to its forecast.
Standard & Poor’s responded to the announcement with a revision of Ford’s ratings outlook to negative from stable, prompting fears that
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