Ford Motor (F) Jumps On Moody's Credit Upgrade

After trading relativaly flat most of the session, Ford Motor Co. (NYSE: F) has jumped about 6% late in the session following the Moodys' credit upgrade to Caa1 from Caa3. Moody's also placed Ford Motor Credit Company LLC on review for a possible upgrade.

Moody's said Ford's business viability has significantly improved, the company is substantial achievements in restructuring its operations and rebuilding competitiveness, and that Ford has adequate liquidity to bridge itself until 2011. More on the upgrade here.

The move is also helping auto suppliers:

ArvinMeritor Inc. (ARM) +8%

American Axle (NYSE: AXL) +7%

Dana Holdings (NYSE: DAN) +4.5%

Tenneco (NYSE: TEN) +5%

Gentex Corp. (Nasdaq: GNXT) flat

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