reports
- Mark Nolan
- Robert Streda
- Shaima Ahmadi
- Robert Streda
- Timothy O'Brien
- Vineet Khattar
Ford Motor Company: Rating Report
On June 14, 2023, DBRS Limited (DBRS Morningstar) upgraded Ford Motor Company’s (Ford or the Company) Issuer Rating to BBB (low) from BB (high). DBRS Morningstar also upgraded the ratings on Ford’s Long-Term Debt, Revolving Credit Facility, and Senior Unsecured Convertible Debt to BBB (low) from BB (high). Concurrently, DBRS Morningstar upgraded Ford Motor Credit Company LLC’s (Ford Motor Credit) Long-Term Debt rating and Long-Term Issuer Rating to BBB (low) from BB (high) as well as its Short-T...
- Robert Streda
- Timothy O'Brien
- Vineet Khattar
- David Laterza
- Mark Nolan
Emerging Potholes in Operating Environment Will Require Skillful Drivi...
This commentary discusses the building headwinds impacting the auto finance sector. Key highlights include: • Following two years of strong results due to robust used vehicle values and lower credit losses, potholes are emerging in the operating environment for U.S. auto finance companies that will be headwinds to their financial performance over the near-term. • Going forward, we see higher funding costs as continuing to pressure net interest margins and company bottom lines, especially ...
- Michael Driscoll
- Michael McTamney
U.S. Banks: Good 2Q22 Results Amid an Unsteady Environment
This commentary reviews the 2Q22 results for U.S. banks. Key highlights include: • While the operating environment remains complicated and uncertain, U.S. banks performed well in 2Q22. • The quarter was characterized by strong, broad-based loan growth, higher NII and NIM expansion, mixed fee income trends and still pristine asset quality. • Looking ahead, we do not expect a significant amount of changes to our U.S. bank ratings in the near term, given that nearly 90% of DBRS Morningstar-rat...
MTB M&T BANK CORPORATION
USB CITIGROUP INC.
C WELLS FARGO & COMPANY
WFC JPMORGAN CHASE & CO.
KEY FULTON FINANCIAL CORPORATION
CMC COMERICA INCORPORATED
FULT CAPITAL ONE FINANCIAL CORPORATION
CMA U.S. BANCORP
COF KEYCORP
USB4311502 WELLS FARGO & CO.
USBpO MORGAN STANLEY
KEY4401029 BANK OF AMERICA CORP. DEP. PFD. (REP. 1/1000TH INTEREST IN A SHARE OF 6.204% NON-CUM PFD SERIES D)
WFC.LG BANK OF AMERICA DEP. SHS (REP. 1/1000TH INTEREST IN A SHARE OF NON-CUM PFD SERIES E)
MSpE BANK OF AMERICA CORP. DEP. SHS (REP. 1/1200TH INTEREST OF A SHARE OF NON-CUM PFD SERIES 5)
MSTNL BANK OF AMERICA CORP. DEP. SHS (REP. 1/1200TH INTEREST OF A SHARE OF FLTG RATE NON-CUM PFD SERIES 4)
MSPRGCL BANK OF AMERICA CORP GDR
MSPRI WELLS FARGO & CO
MWD WELLS FARGO ADR
BACpD WELLS FARGO CO PFD.
BACpE CITIGROUP INC
BMLpL CITIGROUP INC PFD.
BMLpJ GOLDMAN SACHS GROUP INC
BACPRYCL GOLDMAN SACHS GROUP
WFCpN ALLY FINANCIAL INC.
WFCpO US BANCORP
WFCpP U.S. BANCORP PFD.
WFCpQ GOLDMAN SACHS GROUP
WEFAL INC.
WLRGP THE
- Mark Nolan
- Robert Streda
- Shaima Ahmadi
- Charles Halam-Andres
- Muhammad Noman Siddiqui
- Robert Streda
Ford Motor Company: Rating Report
On May 17, 2022, DBRS Limited (DBRS Morningstar) changed the trend on Ford Motor Company’s (Ford or the Company) Issuer Rating to Positive from Stable and confirmed the rating at BB (high). DBRS Morningstar also changed the trends to Positive from Stable for the ratings on Ford’s Long-Term Debt, Revolving Credit Facility, and Senior Unsecured Convertible Debt and confirmed the ratings at BB (high) (with associated recovery ratings of RR4), pursuant to “DBRS Morningstar Criteria: Recovery Ratings...
- Charles Halam-Andres
- Muhammad Noman Siddiqui
- Robert Streda
- David Laterza
- Mark Nolan
Russia-Ukraine Conflict Likely to Extend High Used Vehicle Values Bene...
This commentary reviews the impact of Russia’s economic sanctions on the U.S. auto finance sector. Key highlights include: • The Russia - Ukraine conflict has led to a significant response from the U.S. and its allies, including the establishment of broad-based economic sanctions on Russia's central bank, several of its largest commercial banks, payment system, and transportation. These sanctions will have far reaching implications for many U.S. industries that are reliant on stable supplies o...
- Man Na Cheung
- Mark Nolan
- Robert Streda
- Kam Hon
- Robert Streda
Ford Motor Company: Rating Report
On May 17, 2021, DBRS Limited (DBRS Morningstar) changed the trend on Ford Motor Company’s (Ford or the Company) Issuer Rating to Stable from Negative and confirmed the rating at BB (high). Pursuant to the DBRS Morningstar Criteria: Recovery Ratings for Non-Investment-Grade Corporate Issuers, DBRS Morningstar also changed the trends to Stable from Negative for the instrument ratings on Ford’s Long-Term Debt, Revolving Credit Facility, and Senior Unsecured Convertile Debt and confirmed the rating...
- Charles Halam-Andres
- Kam Hon
- Robert Streda
- David Laterza
- Mark Nolan
U.S. Auto Finance 2021 Outlook: A Winding Road Ahead
DBRS, Inc. (DBRS Morningstar) published a commentary reviewing the 2021 outlook for the auto finance sector. Overall, for 2021, we expect solid operating performance from the U.S. auto finance companies we follow despite the still challenging near-term economic outlook. Although the job market recovery remains uneven, we anticipate new vehicle sales volumes will be higher year-over-year and used vehicle sales volumes will remain strong.
- David Laterza
- Mark Nolan
- Mark Nolan
- Michael Driscoll
- Mark Nolan
- Michael Driscoll
- Mark Nolan
- Michael Driscoll
- Mark Nolan
- Michael Driscoll
- Man Na Cheung
- Mark Nolan
- Robert Streda
- Mark Nolan
- Michael Driscoll
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