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Credit Union (AXcess News) New York - Fitch Rating Service today downgraded the long-term debt of Ford Motor Co. (NYSE: F) and its financing arm citing falling revenue due to a shrinking portfolio of loans.

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Merchant Credit Guide Co "Ford Credit, a strong provider of dividends over the past several years, is expected to demonstrate significantly reduced profitability and dividends going forward, resulting from a smaller portfolio, a reduced benefit from lower loss accruals, and higher interest rates," the rating service stated.

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Apply Online For Credit Card Although Ford has benefited from an improved passenger car portfolio and the strong market position of its core F-Series products, this has been insufficient to outpace the decline in midsize and large SUV sales, including the Explorer, which have historically been strong profit contributors. Ford also faces intensifying competition in the large pickup market from a refreshed GM lineup and the opening of a new Toyota plant later this year.

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By Card Credit Debt Debt Guide Ford's latest restructuring program extends through the 2012, with the bulk of facility closures not commencing until after 2007, limiting Ford's ability to achieve near-term cost reductions.

Credit card and even more so Store card interest are set at exorbitant rates for one reason alone, companies make their money from the consumer’s inability to settle their card balances. Credit card debt is unsecured, whereas other debt like your mortgage is secured (your home acts as security against your debt). With credit card debt, there is no backing security, which means that credit card debt is high risk for banks and hence the high interest rates

Credit Repair The downgrade and Negative Outlook reflect Fitch's expectation of persistent revenue deterioration through at least 2006 due to continued market share losses, deteriorating mix, price competition, a lack of key product introductions, coupled with lack of tangible progress in reducing its cost structure. Despite an aggressive spending plan in 2006 to reduce its fixed cost structure, persistently high commodity prices, and financial and operational stresses at Ford's supply base are likely to more than offset any progress in 2006, and Fitch expects that Ford will see little relief in either cost category over the near term. The unfavorable trend of revenues and key cost factors is expected to result in accelerated negative cash flows through 2006 and into 2007.

Active Credit Credit Guide After reaching a new 52-week low following Fitch's downgrade, Ford manage to recover in late afternoon trading to $6.78, up 12 cents, or 1.8 percent.

Credit Score Fitch lowered Ford's default rating to B+ from BB and its senior unsecured debt rating to BB from BB.

Bad Car Credit Guide Loan It also assigned a recovery rating of RR3 to Ford's senior unsecured debt, meaning it calculates that the automaker has a 50 percent to 70 percent chance of recovery if it files for bankruptcy protection.

Bad Credit Loan Fitch lowered the Ford Motor Credit Company's issuer default rating to B+ from BB and affirmed its senior unsecured debt at BB with a recovery rating of RR2, which indicates recovery prospects of 70 percent to 90 percent. The outlook on all the ratings is negative.

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