Ashford Inc
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Financials : Capital Markets | Small Cap Blend
Company profile

Ashford Inc. provides asset management and advisory services to other entities, primarily within the hospitality industry. The Company operates in the segment of asset and investment management, which includes managing the day-to-day operations of Ashford Hospitality Prime, Inc. (Ashford Prime) and its subsidiaries. The Company serves as the advisor to Ashford Prime, an New York Stock Exchange (NYSE)-listed real estate investment trust (REIT) that invests primarily in high revenue per available room (RevPAR), luxury, upper-upscale and upscale hotels in gateway and resort locations. The Company also serves as the advisor to Ashford Hospitality Trust, Inc. (Ashford Trust), which is focused on investing opportunistically in the hospitality industry with a focus on upscale and upper-upscale hotels in the United States. The Company conducts its business and owns substantially all of its assets through an operating entity, Ashford Hospitality Advisors LLC (Ashford LLC).

Closing Price
$20.85
Day's Change
-0.68 (-3.16%)
Bid
--
Ask
--
B/A Size
--
Day's High
21.17
Day's Low
20.66
Volume
(Average)
Volume:
8,524

10-day average volume:
8,964
8,524

Ford's debt rating gets downgraded to junk by Moody's

4:33 pm ET September 9, 2019 (MarketWatch)
Print

Moody's Investors Service late Monday downgraded Ford Motor Co. (F) debt rating to Ba1, the first rung of "junk," or non-investment speculative grade, from Baa3. The outlook is stable, Moody's said. The downgrade reflects "considerable operating and market challenges facing Ford, and the weak earnings and cash generation likely as the company pursues a lengthy and costly restructuring plan," the debt ratings agency said. Ford has embarked on a long-term restructuring plan with about $11 billion in charges, and a cash cost of about $7 billion. "Ford is undertaking this restructuring from a weak position as measures of cash flow and profit margins are below our expectations, and below the performance of investment-grade rated auto peers," Moody's said. Cash flow and profit margins are likely to remain weak and Ford faces such difficulties at a time auto markets are softening, it said. Ford "does have a sound balance sheet and liquidity position from which to operate," Moody's said. Shares of Ford fell nearly 2% in the extended session, after ending the regular trading day up 2.1%.

-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

September 09, 2019 16:33 ET (20:33 GMT)

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