Ford pulls down $15.4 billion in credit as virus hits
Share:
(Reuters) - Ford Motor Co said on Thursday it was drawing down $15.4 billion (13 billion pounds) from two existing credit lines and suspending dividend payments as it bolsters its reserves to ride out damage to its business from the coronavirus outbreak.The United States second biggest automaker also abandoned its 2020 financial forecasts and said the cash would be used to deal with a squeeze on capital caused by shutdowns in production due to the fast-spreading virus.Ford, General Motors Co ..