Yes, as an auto insider today's already told us — when it rains, it pours. To which we add, "when the FoMoCo's it gonna stop raining over in Dearborn?" We just received a release letting us know of another Billy Joel-esque storm front coming, and it's the indigo mood-inducing S&P, dropping Ford and Ford Credit from "B+" to "B." Given this new and revoltin' development (the latest of four downgrades in 18 months), the quarterly results, the leaked meeting between he and Fritzy-kins over at the General and the newest guidance FoMoCo's provided for the rest of the year, we've got another question for our rabid readers:
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UPDATE 1-S&P cuts Ford deeper into junk on profit concerns [Reuters]
Related:
All Brand: Ford Stays Regular [internal]