Moody’s downgrades Ford and BMW, warns of coming ‘credit shock’
26 March 2020 - 19:00
New York — BMW and Ford Motor were downgraded by Moody’s Investors Service and their major US and European competitors were put under review for possible cuts as the coronavirus pandemic raises risks for carmakers worldwide.
BMW, the European carmaker with the best credit profile, was dropped one level to A2, while Ford’s rating fell to Ba2, another step into junk. Moody’s put General Motors under review along with Daimler, Jaguar Land Rover Automotive, PSA Group, Renault, Volkswagen, Volvo Car and McLaren Holdings...
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