The company hailed the upgrade as a "once in a lifetime event" as it allowed Ford to reclaim important assets it pledged as collateral for a $23 billion loan six years ago, including its trademark blue oval.
"When we pledged the Ford Blue Oval as part of the loan package, we were not just pledging an asset," said Bill Ford, the company's executive chairman, in a statement. "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 stock ticked up 1.4%, or 14 cents, to $10.33 in late trades on volume of more than 1 million.
>To contact the writer of this article, click here: Michael Baron.
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