Ford’s junk rating cut further

Standard & Poor’s (S&P) has slashed the debt ratings of Ford once again, pushing the US carmaker even further into “junk” territory.

S&P said the move reflected a drop in Ford’s market share and fears over whether it would be able to reinvigorate its US business.
The US credit rating agency’s decision came a day after Ford posted a slide of 8.7% in December sales.