Moody’s is downgrading Ford Motor Co.’s credit rating to junk status, which could make it harder for the company to borrow money. The automaker insists it remains “confident” in its business plan.
Ford is struggling with cash flow as it works through an $11 billion restructuring. Just a few years ago, Ford unveiled a new vision for its future as a global mobility company. But that vision is at odds with its reality. Selling big trucks to Americans continues to be Ford’s bread and butter.