Ford Motor Company: Rating Report

On May 17, 2022, DBRS Limited (DBRS Morningstar) changed the trend on Ford Motor Company’s (Ford or the Company) Issuer Rating to Positive from Stable and confirmed the rating at BB (high). DBRS Morningstar also changed the trends to Positive from Stable for the ratings on Ford’s Long-Term Debt, Revolving Credit Facility, and Senior Unsecured Convertible Debt and confirmed the ratings at BB (high) (with associated recovery ratings of RR4), pursuant to “DBRS Morningstar Criteria: Recovery Ratings for Non-Investment-Grade Corporate Issuers.” Concurrently, DBRS Morningstar changed the trends on all ratings of Ford Motor Credit Company LLC (Ford Credit) and its subsidiary Ford Credit Canada Company to Positive from Stable while also confirming the long- and short-term debt ratings at BB (high) and R-4, respectively.