NEW YORK (TheStreet) -- Ford (F) rose Wednesday after Ford Automotive Finance, the Chinese subsidiary of Ford Motor Credit Company, completed the first asset-backed securitization, or ABS, in China to help finance the U.S. automaker's vehicle sales in the country.
Ford Automotive Finance is the first wholly foreign-owned auto finance company to complete this type of transaction in China.
Ford also announced Wednesday it would license its patented inflatable safety belt technology to other companies and industries, including rival automakers. Ford said the system "enhances protection" for passengers, specifically children and the elderly.
The company said in a press release that broader adoption of the technology could lead to safer travel and could lessen injuries in other forms of transportation including military vehicles, aircraft, and boats.
The stock was up 1.04% to $16.48 at 11:04 a.m.
Separately, TheStreet Ratings team rates FORD MOTOR CO as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate FORD MOTOR CO (F) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, increase in stock price during the past year and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."