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0.00196850393700801 0.00393700787401584 0.00393700787401584 0 0.00196850393700801 0 0.00196850393700801 0
Stock impact report

Ford issues debt securities after virus causes $2 billion loss [Reuters]

Ford Motor Company (F) 
Last ford motor company earnings: 4/28 04:09 pm Check Earnings Report
US:NYSE Investor Relations: shareholder.ford.com
Company Research Source: Reuters
Ford to issue debt securities after virus triggers $2 billion loss (Reuters) - Ford Motor Co ( F.N ) said on Friday it would tap debt markets to shore up its cash reserves as the coronavirus outbreak pummeled vehicles sales and halted production, resulting in an estimated loss of about $2 billion for the first quarter. The Dearborn, Michigan-based company, which lost its investment grade status in March, said it has filed for a three-part unsecured debt offering, but did not disclose the amount. Ford, which has drawn down over $15 billion to ride out the damage to its business from the pandemic, said it had to put up certain assets as security for the loans because it does not maintain an investment grade status. It has suspended dividend for the quarter. The No.2 U.S. automaker had about $70 billion of assets as of Dec. 31, and about $30 billion in cash on its balance sheet, as of April 9. Separately, Ford warned that its production of high-priced versions of pickups and sport util Show less Read more
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