DEARBORN – The following statement can be attributed to Bill Ford, executive chairman, Ford Motor Company (NYSE: F): “The Ford Blue Oval is back where it belongs with the Ford family of 166,000 employees around the world. This is a great day for us and is the result of several years of hard work and progress by everyone associated with Ford.
“When we pledged the Ford Blue Oval as part of the loan package, we were not just pledging an asset. We pledged our heritage. The Ford Blue Oval is one of the most recognized symbols in the world, and it is a source of great pride and passion, both inside and outside our company. Getting the Ford Blue Oval back feels amazing, and it is one of the best days that I can remember.”
The following statement can be attributed to Alan Mulally, president and chief executive officer, Ford Motor Company:
“We are so proud of today’s decision by Moody’s and the resulting release of all collateral – particularly the Ford Blue Oval. This is an important milestone and further proof that, by staying laser-focused on our One Ford plan, the Ford team can deliver great products, build a strong business and contribute to a better world even through the most challenging external environment.
“Moving forward, we will continue to focus on driving profitable growth for all of our stakeholders. We are confident that, by staying focused on our plan and working together, we will maintain strong investment grade ratings through all economic cycles.”
Ford Motor Company achieved a full-year operating profit and net income of $2.7 billion at the end of the 2009 fiscal year– an improvement of $17.5 billion from the losses of 2008. At year-end 2011, it reported the third year in a row of improved annual operating profits and reduced debt by more than $20 billion compared with 2009. Ford Motor Company completely paid back its December 2006 loan in September 2011, and in March 2012 recorded its first dividend payment in almost six years.
