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Moody's cautious on Ford after CEO switch

Published 05/24/2017, 02:02 PM
© Reuters.  Moody's cautious on Ford after CEO switch
  • Moody's calls the move by Ford (F -1.1%) to replace CEO Mark Fields a "credit negative" event.
  • "The appointment of a new CEO at Ford was unexpected and comes in the absence of any major missteps by the company during recent years," notes Moody's analyst Bruce Clark.
  • Fields was committed to steering Ford on a path of adjustment to disruption in auto through autonomus development and electrification initiatives.
  • “We are concerned that this could reflect a more serious set of challenges in these areas than Moody’s had previously anticipated," he notes.
  • Moody's rates Ford at Ba2.
  • Shares of Ford are flat for the week and are down 10% YTD.
  • Now read: Advice For Ford: Go Low Tech


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