December 24, 2008
Moody’s has chopped the long term Mexican national scale debt rating
Moody’s has chopped the long term Mexican national scale debt rating of Ford Credit de Mexico to Caa1.mx from Ba3.mx. The outlook is negative. The new long-term Mexican national scale rating indicates very weak creditworthiness relative to other domestic issuers. The cut comes after the agency downgraded parent company Ford Motor Credit’s senior unsecured rating to Caa1 from B3, with negative outlook.