UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: April 14, 2005
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(Date of earliest event reported)
FORD MOTOR CREDIT COMPANY
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
1-6368 38-1612444
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(Commission File Number) (IRS Employer Identification No.)
One American Road, Dearborn, Michigan 48126
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 313-322-3000
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 140.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events.
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On April 5, 2005, Moody's Investors Service, Inc. ("Moody's") placed the
long-term ratings of Ford Motor Company ("Ford"), presently "Baa1", and Ford
Motor Credit Company ("Ford Credit"), presently "A3", under review for possible
downgrade. Ford Credit's short-term rating, presently "P-2", is not under review
and was affirmed. The Moody's press release announcing this action is filed as
Exhibit 99.1 hereto.
On April 8, 2005, Standard & Poor's Rating Services, a division of McGraw-Hill
Companies, Inc. ("S&P") affirmed the ratings of Ford, Ford Credit, and all
related entities, presently "BBB-" for long-term debt and "A-3" for short-term
debt, and at the same time revised the outlook on the companies to negative from
stable. The S&P press release announcing this action is filed as Exhibit 99.2
hereto.
On April 11, 2005, Dominion Bond Rating Service Limited ("DBRS") placed the
ratings of Ford under review with negative implications, but confirmed the
ratings of Ford Credit and Ford Credit Canada Limited ("Ford Credit Canada")
both with stable trends. The long- and short-term ratings of all three companies
presently are "BBB (high)" and "R-1 (low)", respectively. The DBRS press
releases announcing these actions are filed as Exhibits 99.3 and 99.4.
On April 11, 2005, Fitch, Inc. ("Fitch") revised the ratings outlook of Ford,
Ford Credit, Hertz, and related entities to negative from stable. The present
long- and short-term ratings for all companies are "BBB+" and "F2",
respectively. The Fitch press release announcing this action is filed as Exhibit
99.5.
Ford Credit's principal subsidiary in Canada, Ford Credit Canada has suspended
offering its medium term notes in Canada until further notice. The notes, which
are guaranteed by Ford Credit, had been offered pursuant to Ford Credit Canada's
Short Form Prospectus and Prospectus Supplement each dated December 16, 2004.
Ford Credit Canada will continue to offer debt securities pursuant to its euro
medium term note program and its commercial paper program.
During April 2005, we are conducting regularly scheduled semi-annual meetings
with these credit rating agencies. Further rating actions could occur at any
time, including following those meetings.
Item 9.01. Financial Statements and Exhibits.
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EXHIBITS
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Designation Description Method of Filing
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Exhibit 99.1 Moody's Press Release
dated April 5, 2005 Filed with this Report
Exhibit 99.2 S&P's Press Release
dated April 8, 2005 Filed with this Report
Exhibit 99.3 DBRS Press Release
dated April 11, 2005 Filed with this Report
Exhibit 99.4 DBRS Press Release
dated April 11, 2005 Filed with this Report
Exhibit 99.5 Fitch Press Release
dated April 11, 2005 Filed with this Report
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FORD MOTOR CREDIT COMPANY
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(Registrant)
Date: April 14, 2005 By: /s/ C. M. MacGillivray
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C. M. MacGillivray Assistant
Secretary
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EXHIBIT INDEX
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Designation Description
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Exhibit 99.1 Moody's Press Release
dated April 5, 2005
Exhibit 99.2 S&P's Press Release
dated April 8, 2005
Exhibit 99.3 DBRS Press Release
dated April 11, 2005
Exhibit 99.4 DBRS Press Release
dated April 11, 2005
Exhibit 99.5 Fitch Press Release
dated April 11, 2005
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