By Drew Johnson
Tuesday, Apr 24th, 2012 @ 10:25 am
 
Both Ford and Ford Motor Credit have been bumped to investment grade by Fitch Ratings. Fitch said the new rating is due to Ford's "significantly improved financial performance."Â

Fitch raised its rating of Ford and Ford Motor Credit from BB+ to BBB-, the lowest investment grade. Fitch says the outlook for both entities is stable, according to Bloomberg, so Ford should remain investment grade for the foreseeable future.

"We are very pleased with today's decision by Fitch," Ford CFO Bob Shanks said in a statement.  "It is an important proof point of the continued progress the Ford team is making with our One Ford plan."Â

Last December Ford resumed payments of quarterly dividends, ending a drought that lasted more than five years.
  

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