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April Auto Sales Should Help Quell Fears on 2nd Quarter Growth
The Fitch Ratings agency lifted Ford's credit rating from junk status to investment grade Tuesday, a sign that the company's recovery from near collapse is almost complete.
But Ford Motor Co. needs another agency, either Standard & Poor's or Moody's, to make the same upgrade before it can get its blue oval logo, factories and other assets out of hock.
GM, Ford, Chrysler Struggling to Keep Up With Sales
Wednesday saw Chrysler report its first annual profit in seven years. Not since 2005 has the company, the only non-traded auto manufacturer in the Detroit “big 3”, been able to report a profit, and it comes only two years after a federal bailout, a bankruptcy filing and a takeover by Fiat.