Ford Motor Co. and Ford Motor Credit Co. both saw their issuer default ratings downgraded by Fitch Ratings today, because the rating agency believes that bankruptcies among Ford's major suppliers will hamper the car company's ability to control costs.  

Several of Ford's major suppliers are facing tremendous problems, including potential labor actions, supply disruptions; legacy costs, pricing competition and commodity costs. At a time like this, when Ford is steadily losing market share to its competitors and its current grab of the market stands at just 1.1% in North America, Fitch believes that its suppliers' woes will pose serious challenges this year the firm's ability to stabilize operating cash flows.

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