Exhibit 99.5


Fitch Revises Rating Outlook on Ford to Negative
2005-04-11 10:04 (New York)


CHICAGO--(BUSINESS WIRE)--April 11, 2005 Fitch Ratings has revised the Rating
Outlook of Ford, Ford Credit, Hertz and related entities (see below) to Negative
from Stable. The Outlook revision reflects the effect of further production
cutbacks on Ford's consolidated operating results, continuing price competition
in key market segments, shifting consumer buying patterns away from mid-size and
large SUVs (which have comprised a significant component of Ford's automotive
profitability) and cost pressures. These factors have further compressed
margins, already weak for the rating category, and Ford now expects automotive
operations to be breakeven at best. Future rating decisions will focus on Ford's
ability to restore margins through stabilization of market shares, the ability
to retain pricing on new and recent product introductions, and further success
in cost reduction programs.

   Ford's difficulties have occurred despite being in a relatively favorable
part of its product cycle and during a period of solid economic growth. The
success of the company's core F-Series and several new product offerings (most
notably the new Mustang) have not been sufficient to improve consolidated
operating results in light of less successful new car introductions and
continuing price competition. In particular, the truck market has recently
experienced higher incentive levels, and product and capacity expansions in this
segment indicate no let-up in competitive pressures in this key segment. Ford's
recent announcement highlights the sensitivity of operating cash flows to SUV
volumes and pricing in the truck market, and pressures in these areas will
persist. Ford also continues to struggle with losses at its PAG unit, primarily
in its Jaguar operations. Despite several restructuring programs, losses have
been persisted.

   Ford has announced production cutbacks for the remainder of 2005 in response
to slowing sales of mid-size and large SUVs that have shown double-digit sales
declines for the first quarter. Ford's high fixed cost structure, continuing
escalation in health care costs, and the full roll-in of steel and other
commodity costs in 2005 indicate that margin restoration will be difficult to
achieve in the near term. Ford has made progress in reducing its fixed cost
structure, but as share losses continue and production is reduced, Ford will be
challenged to keep pace in reducing fixed costs. Stabilizing share losses over
the near term will be a key determinant in future rating decisions.

   Ford maintains very strong liquidity, with cash and short-term VEBA of $23.6
billion at yearend 2004 at Ford Motor and an additional $12.7 billion at Ford
Credit. Ford modestly reduced debt in 2004 and contributed $5 billion to its
pension and long-term VEBA accounts, benefiting from strong profitability at
Ford Credit and a dividend to Ford Motor of $4.3 billion. Ford Motor has an
extended maturity schedule with minimal debt maturities over the next five
years. Ford's credit profile also benefits from its holdings in well-performing
Hertz and, to a lesser degree, Mazda.

   Health care costs remain a key competitive disadvantage for Ford and GM, and
led by GM, are likely to seek concessions prior to the official contract
re-opening in 2007. The current level of steel prices is viewed by Fitch as a
cyclical issue, however, and margins may benefit over the near term as steel
prices moderate. Top-line improvement will be dependent on the performance of
recent and new product introductions, and the ability of Ford to retain pricing.
This will remain a challenge, particularly in the key truck market where pricing
incentives and new transplant capacity and product introductions presage an
increasingly competitive market.

                                      -1-


   Ford and Visteon are expected to reach an agreement in which Fitch expects
that the vast majority of the restructuring costs will be borne by Ford. These
charges are likely to be significant, but can be comfortably absorbed by Ford's
substantial liquidity. However the agreement is structured, the question remains
how quickly Ford and Visteon can establish cost competitiveness at these
operations. As the bulk of cost savings will be derived through employment
reductions and facility closures/divestitures, progress is expected to be
gradual but could result in a more competitive supply base over time.

   Fitch has revised The Rating Outlook to Negative from Stable on the following
ratings:

   Ford Motor Co.

   --  Senior debt 'BBB+';

   --  Preferred stock 'BBB-';

   --  Commercial paper 'F2'.

   Ford Motor Credit Co.

   --  Senior debt 'BBB+';

   --  Commercial paper 'F2'.

   FCE Bank PLC

   --  Senior debt 'BBB+';

   --  Short-term 'F2'.

   Ford Credit Canada Ltd.

   --  Senior debt 'BBB+';

   --  Commercial paper 'F2'.

   Ford Credit Australia Ltd.

   --  Senior debt 'BBB+';

   --  Commercial paper 'F2'.

   Ford Credit Co. of New Zealand Ltd.

   --  Senior debt 'BBB+';

   --  Commercial paper 'F2'.

   Ford Capital B.V.

   --  Senior debt 'BBB+'.

   Ford Motor Credit Co. of Puerto Rico, Inc.

   --  Commercial paper 'F2'.

   Ford Holdings Inc.

   --  Senior debt 'BBB+'.

                                      -2-


   Ford Motor Co. S.A. de C.V.

   --  Senior debt 'BBB+';

   --  Short-term 'F2'.

   PRIMUS Financial Services (Japan)

   --  Senior debt 'BBB+';

   --  Short-term 'F2'.

   The Hertz Corp.

   --  Senior debt 'BBB+';

   --  Commercial paper 'F2'.

   Hertz Canada Ltd.

   --  Commercial paper 'F2'.

   Hertz Australia Pty. Ltd.

   --  Commercial paper 'F2'.

   Hertz Finance Centre Plc

   --  Commercial paper 'F2'.



                                      -3-