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Ford’s Mulally Closer to Winning Bet

Fitch investment-grade rating means Ford's halfway to regaining control of $23 bln in assets.

By Keith Naughton, Bloomberg | Updated on April 25, 2012

Chief Executive Officer Alan Mulally moved closer to reclaiming Ford Motor Co.’s valuable blue oval logo, headquarters building and Mustang trademark yesterday, as Fitch Ratings raised the automaker’s credit rating to investment grade.

Fitch had ranked the second-largest U.S. automaker’s debt as junk since December 2005. With yesterday’s upgrade, Ford now needs only Standard & Poor’s or Moody’s Investors Service to follow suit to regain control of the major assets it put up as collateral to avoid the bankruptcy that engulfed other U.S.-based automakers.

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