Ford a "Junk Bond"

[bathurst77]

Ford rating downgraded to junk
From: Agence France-Presse By correspondents in Chicago, Illinois
January 06, 2006

RATINGS agency Standard and Poors cut its credit rating for struggling US automaker Ford Motor Company deeper into junk status today.

"The downgrade reflects our increased scepticism about Ford's ability to turn around the performance of its North American automotive operations -- a process that will require, at best, a number of years," the agency said.

The rating downgrade came a day after Ford announced a 9 per cent drop in December sales and a 5 per cent drop in sales in 2005.

Standard and Poors cut the credit rating for both Ford and its lending arm, Ford Credit Co to BB-/B-2 from BB+/B-1 and said the rating outlook was negative.
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Ok who can explain what this means?