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Mulally Predicts Ford Will Regain Investment Grade Sooner Than He Expected
Bloomberg

Sep 15, 2010 4:24 PM ET
By Craig Trudell -


Ford Motor Co., the only major U.S. automaker to avoid bankruptcy last year, will regain an investment-grade credit rating sooner than the company expected, Chief Executive Officer Alan Mulally said today.

Ford, which borrowed more than $23 billion in 2006 before credit markets froze, is “paying the money back now, and we’re going to be back to investment grade a lot sooner than what we thought,” Mulally said today at an event with the Wings Club, an aviation group in New York.

Since arriving from Boeing Co. in 2006, Mulally has revived Dearborn, Michigan-based Ford by expanding the namesake brand and improving vehicle quality. The automaker earned $4.7 billion in the year’s first six months, its largest first-half profit since 1998.

Ford’s finance arm, Ford Motor Credit Co., sold $1 billion of five-year notes yesterday at interest rates that signal its investment-grade rating may be restored, said Greg Petryszyn, a fixed-income analyst at Minneapolis-based Thrivent Financial.

Standard & Poor’s raised the second-largest U.S. automaker’s credit rating last month two steps to B+, the fourth level below investment grade. Ford lost its investment-grade rating in 2005. Moody’s Investors Service rates Ford B1, also the fourth level below investment grade.

Ford’s 7.45 percent notes due in July 2031 rose 0.5 cent on the dollar to 100.25 cents on the dollar at 4:08 p.m. in New York, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority.

Taurus, Fusion

Sales of redesigned models such the Taurus and Fusion sedans have helped boost the automaker’s U.S. sales 17 percent this year through August, doubling the industrywide gain of 8.4 percent.

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Hey Simon, did you see that Mulally interview?? It is a written interview, and it is posted on BON. It is fabulous. There are not too many leaders that can cause infectious excitement in a written interview............. but he sure can.

Quite a few crickets around here.
 

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Hey Simon, did you see that Mulally interview?? It is a written interview, and it is posted on BON. It is fabulous. There are not too many leaders that can cause infectious excitement in a written interview............. but he sure can.

Quite a few crickets around here.
No, I haven't. Would you post a link? :) I would love to read it.
 

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I will post a link to the thread. They didn't put the link to the actual article, in the thread................. I don't believe.
 

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I will post a link to the thread. They didn't put the link to the actual article, in the thread................. I don't believe.
Ooops my bad. You meant the interview this article is about. Yeah, I read it . . . I posted it!! LOL

The link is in the name of the media source, Bloomberg in this case.

My apologies for the confusion.
 
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