Ford’s Blue Oval to be Ford’s again
Back in 2006 the Ford Motor Company mortgaged its blue oval logo along with many of its factories and equipment, all of which helped the company to secure a restructuring loan of $23.5 billion. Ford are now looking set to be able to regain many of their mortgaged items, including its logo, due to some great news for the motoring giant.
Last week the Ford Motor Company recieved one of the two investment grade ratings needed to once again secure its assets. The automakers saw their credit status rise from ‘Junk' to ‘BBB Minus' the lowest investment grade available, with the ratings agency commenting that Ford has repaired its balance sheet and improved upon its vehicles, putting it in a solid position. Ford will now have to wait for one more credit agency to raise their ratings now before they can take the next steps.
The Ford logo dates back to 1965 and the Ford text inside dates back even further to 1912 when Henry Ford and a draftsman first created and stencilled the word. Ford have commented that getting the Blue Oval back under their ownership will have an enormous psychological effect, stretching from its Ford car dealerships to its pride of place on the front of its Ford cars for sale.
Image credit: Ian Muttoo