Ford's credit rating gets an upgrade

 NEW YORK (AP) - Standard & Poor's is raising Ford Motor Co.'s credit rating two notches, saying a new contract with auto workers will allow for continued profits at the car maker's North American operations.

S&P said Friday it was upgrading Ford to "BB+" - one level below investment-grade - from "BB-."

Ford shares are up 45 cents, or 3.9 percent, to $12.15 in late-morning trading.