Moody's cuts Ford Credit de Mexico

Moody's de Mexico said it downgraded Ford Credit de Mexico SA de CV's long-term Mexican national-scale debt rating to Caa1.mx from Ba3.mx.

The outlook is negative.

At the same time, Moody's said it affirmed the short-term Mexican national-scale debt rating of MX-4.

The rating downgrade follows Moody's rating action on parent company Ford Motor Credit Co. LLC's rating (senior unsecured rating downgraded to Caa1 from B3, with negative outlook).

The agency noted that Ford Credit de Mexico's debt rating is based on an irrevocable and unconditional guarantee provided by Ford Motor Credit Co. LLC.

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