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Joined: Aug 2004
Posts: 22,315
Wiki Master
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OP
Wiki Master
Joined: Aug 2004
Posts: 22,315 |
Struggling US carmaker Ford has seen its shares fall 4% after it unveiled plans to borrow $18bn (£9.3bn).
The company said it needed the extra cash to help pay for its ongoing efforts to restructure its North American operations.
Analysts said the move highlighted Ford's worsening financial condition and the carmaker's already weak credit rating was cut even further.
Ford recently announced a 30-fold rise in quarterly losses to $5.8bn (£3bn).
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