Ford Motor Co. has received its second credit upgrade, marking the auto maker’s return to investment-grade status after its downgrade to junk in 2020.
S&P Global Ratings raised the Dearborn, Michigan-based company’s rating to BBB- from BB+, the ratings firm said in a release Monday. The credit grader said the company’s margins will likely exceed expectations as part of the upgrade.
S&P’s move follows a boost to investment-grade by Fitch Ratings in September.
Two investment-grade ratings are typically required for a company to be included in a blue-chip corporate bond index.
Ford didn’t immediately respond to a request for comment.
