The Fitch Ratings agency on Tuesday restored its credits ratings for Ford Motor Co. and the Ford Motor Credit unit to investment grade.
Both were given a rating of BBB- from Fitch, up from a BB+ rating. The Dearborn automaker had previously had its debt at junk status since 2005.
"The upgrade of Ford's ratings reflects the automaker's significantly improved financial performance, balance sheet repair and product portfolio improvement that have taken place over the past several years," according to a released statement from Fitch.
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