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Ford Motor Credit Co.



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Auto news in brief: Ford credit rating cut

Fitch Ratings downgraded Ford Motor Co.'s credit rating deeper into junk status Monday as economic worries dragged down auto shares along with stock markets around the globe.

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Fitch Upgrades 3 & Affirms 6 Classes from 2 Ford Auto ABS Deals

NEW YORK--(BUSINESS WIRE)--Fitch Ratings has taken the following rating actions on the two Ford Credit Auto Owner Trust transactions listed below as part of its on going surveillance

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GM shares fall 30 percent after S&P statement

General Motors shares have fallen more than 30 percent after Standard & Poor's Ratings Services said it's placing the automaker's credit ratings under review for possible downgrade.

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Fitch downgrades Ford to 'poor quality' grade of 'CCC'

SAN FRANCISCO (MarketWatch) -- Fitch Ratings on Monday downgraded the issuer default rating of Ford Motor Co. and Ford Motor Credit Co. by one notch to CCC from B-. CCC is viewed as of "poor quality" with possibility of default by ratings agencies. The move reflects the growing impact of the credit crisis on the industry. Plummeting sales volumes will accelerate negative...

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Lawyer seeks to exclude use of `Paparazzo,' `Paparazzi' from trial

... from making any mention of Silva's default for non-payment of an auto-purchase agreement with Ford Motor Credit Co. If defense attorneys are allowed to use the words "paparazzo" or "paparazzi" and make mention of the default judgment the result would be "absolutely fatal to (Silva's) case," Farzam's court papers state. The trial is scheduled Oct. 27. Reeves starred in "Street Kings,"...