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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.

Abercrombie & Fitch Co (NYSE:ANF) through its subsidiaries, a specialty retailer that operates stores and direct-to-consumer operations selling casual sportswear apparel, including knit and woven shirts, graphic t-shirts, fleece, jeans and woven pants.

Abercrombie & Fitch Co (NYSE:ANF) through its subsidiaries, a specialty retailer that operates stores and direct-to-consumer operations selling casual sportswear apparel, including knit and woven shirts, graphic t-shirts, fleece, jeans and woven pants.

The U.S dollar is trading firmly today against the majors, after Fitch confirmed the U.S credit rating at ‘AAA’. Some currency analysts are viewing today’s news as evidence that the U.S dollar is still one of the major ‘safe-haven’ currency to go to during uncertain global economic outlook.

The U.S. Dollar is trading mixed against the major currencies ahead of the U.S. opening. The Greenback is posting gains versus the British Pound and Japanese Yen while showing a slight loss versus the Euro and an even bigger decline against the risk-related currencies.

Overnight Fitch Ratings issued a statement which could weigh on the Japanese Yen over the near-term.

The European Union stood ready to rescue Greece if needed after Fitch Ratings cut the country’s credit rating to the lowest investment grade. The move appears to foretell that emergency bailout funding is forthcoming.

This article looks at why the ratings firms should act now to repair their reputations by doing broad based downgrades. It also examines the effect this would have on GSEs and the capital adequacy ratios of many financial firms. It points out the disconnect between the rating's firms own loss projections and the ratings they have on AAA tranches.

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