Thursday, April 16, 2009 Ford Is Doing Well
 Ford recently announced that, thanks to its debt restructuring initiative, the company will reduce it by almost $10 billion. Basically, Ford decided to use $2.4 billion in cash and 468 million shares of its common stock to reduce its outstanding automotive debt by $9.9 billion from $25.8 billion at the end of 2008. The company adds this will lower Ford's annual cash interest expense by more than $500 million, which is based on current interest rates. As a result of Ford's moves, Standard & Poor's Ratings Services reported that it has lowered its corporate credit and other ratings on the automaker. (FC)
www.ford.ca
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