Moody's downgraded Ford Motor Credit Co. LLC after it similarly cut parent company Ford Motor Co. over various operating and market challenges together with potentially weaker earnings as it implements its restructuring plan.
The rating agency cut the unit's senior unsecured rating to Ba1 from Baa3 and its short-term rating to Not Prime from Prime-3.
Despite the downgrade, Moody's does not expect Ford Motor Credit's strengths, such as its operating performance, capital levels and well-managed credit portfolio, to be materially affected.
