Ford Motor Co. completed its long journey back to Wall Street's good graces on Tuesday when Fitch Ratings became the first debt-rating firm to lift its rating on the auto maker's debt to investment grade.
Investors pounced on the upgrade, boosting prices of its debt. Ford bonds were the top three most-actively traded high-yield bonds in early trading, according to MarketAxess. Its 2031 bonds jumped $3.50 per $100 of face value to $126.
The change ends a seven-year period in which Ford debt was rated as "junk," and marks the achievement of what has been a key goal of CEO ...
