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Moody's ups Ford Credit de Mexico on parent rating hike

Nov 04, 2009 (M2 EQUITYBITES via COMTEX) --

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4 November 2009 - Moody's de Mexico has raised the long-term national scale debt rating on Ford Credit de Mexico SA de CV reflecting an upgrade of its parent, Ford Motor Credit Company LLC (NYSE:FCZ).

Specifically, the agency lifted the unit's rating to B1.mx, on upgrade review, from Caa1.mx, which was prompted by the upward revision of the parent's senior unsecured rating to B3, on upgrade review, from Caa1.

Moody's also confirmed Ford Credit de Mexico's MX-4 short-term national scale debt rating.

The Mexican subsidiary's debt ratings reflect an irrevocable and unconditional parental guarantee, Moody's said. 

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