Fitch ups Ford Motor outlook to positive

Fitch Ratings said it has revised the outlook on Ford Motor Co. and Ford Motor Credit Co. to positive from stable.

Fitch said it has also affirmed the issuer default rating at CCC.

The positive outlook reflects the better than expected progress on Ford's cost reduction program, production and inventory discipline that has resulted in solid pricing performance and continued market share gains, the agency noted.

Although Fitch said it expects a weak rebound in industry sales in 2010, in part recognizing the hangover from the Cash-for-Clunkers program, Fitch expects that cash drains will be materially reduced and comfortably within Ford's liquidity position.

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