After almost six years since Ford put up everything it had as collateral to the banks, the coveted ‘Blue Oval’ is back where it belongs.
In December 2006, the American automaker was forced to raise $23.5 billion in liquidity, $18.5 billion of it which came from leveraging all of its domestics assets, including the F-150 and Mustang trademarks as well as even the brand’s Blue Oval logo.
It took Ford until September 2011 to completely pay back the loan, and in March 2012, Ford issued out its first dividend payment in almost six years. As a result of the turn-around, all the assets that Ford had put up as collateral are now free and Ford is once again whole.
“The Ford Blue Oval is back where it belongs with the Ford family of 166,000 employees around the world. This is a great day for us and is the result of several years of hard work and progress by everyone associated with Ford,” said Bill Ford, executive chairman of Ford Motor Company.
“We are so proud of today’s decision by Moody’s and the resulting release of all collateral – particularly the Ford Blue Oval. This is an important milestone and further proof that, by staying laser-focused on our One Ford plan, the Ford team can deliver great products, build a strong business and contribute to a better world even through the most challenging external environment,” added Alan Mulally, president and chief executive officer of Ford.