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Fitch kicks Ford up a notch to investment grade

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This morning, Fitch Ratings upgraded Ford Motor Company and Ford Credit by one notch to BBB- from BB+ with a stable outlook. This means Ford is now investment grade stock for the first time since late 2005.

Fitch said the move “reflects the automaker’s significantly improved financial performance, balance sheet repair, and product portfolio improvement that have taken place over the past several years.”

they wrote in a report. The work “has put the company in a solid position to withstand the significant cyclical and secular pressures faced by the global auto industry.” The upgrade is proof of Ford’s progress and a plan that “includes achieving strong investment grade ratings and maintaining investment grade throughout an economic cycle,” said Bob Shanks, Ford’s chief financial officer, in a statement. Ford shares rose 2.3% in preopen trading.

“We are very pleased with today’s decision by Fitch,’ said Bob Shanks, Ford’s CFO. ‘It is an important proof point of the continued progress the Ford team is making with our One Ford plan. Moving forward, we will continue to focus on driving profitable growth for all of our stakeholders. In fact, our One Ford plan includes achieving strong investment grade ratings and maintaining investment grade throughout an economic cycle.”
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Toyota back on top for brand loyalty

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Kelley Blue Book’s www.kbb.com, reports that Toyota has regained the No. 1 spot for brand loyalty on kbb.com for Q4 2011. Toyota last appeared in the top position in Q3 2010.

For the fourth quarter of 2011, Toyota’s brand shopping loyalty was measured at 50.6 percent, a 2.7 percentage point jump from the previous quarter. Hyundai was a close second at 50.2 percent and Ford moved up to spots to take the No. 3 spot with a reading of 47.1 percent. Rounding out the top five were Kia at 46.5 percent and Honda just barely behind at 46.4 percent.

Kelley Blue Book Market Intelligence examines brand loyalty while consumers are still in the shopping phase. For this analysis, loyalty is defined as owners of the brand who are currently shopping the same brand for their next vehicle. This includes data from consumers who view a trade-in page or private party page in addition to a new-car page on Kelley Blue Book’s kbb.com.