By Stephen Nakrosis
Shares of Ford Motor Co. (F) are trading lower in Monday's after-hours session, following the decision by Moody's Investors Corp. to cut Ford's senior unsecured debt rating to junk territory.
At 5:48 p.m. ET, Ford shares had lost 3.67% to trade at $9.19. Volume in the late trading session was over 2.4 million shares.
Ford's shares finished the day's regular trading session with a 2.14% gain, closing at $9.54.
Moody's said the new rating reflects "considerable operating and market challenges facing Ford." The car maker's weak performance was driven by operating inefficiences in almost all its major markets as well as losses in China, Moody's said.
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