Ford Cuts Debt by $9.9 Billion

April 6, 2009
Restructuring is expected to lower annual interest expense by more than $500 million.

Ford said on April 6 it had completed a debt restructuring, slashing $9.9 billion from a debt pile of $25.8 billion at the end of 2008.

The debt restructuring is expected to lower annual interest expense by more than $500 million, Ford Motor Company said.

"This successful debt restructuring, together with previously announced agreements with the United Auto Workers (union), will substantially strengthen Ford's balance sheet," the company said.

Copyright Agence France-Presse, 2009

Popular Sponsored Recommendations

Discover How an Eye Tracking Study Improves Training Procedures

Oct. 29, 2023
Did you know that your training processes can be streamlined by visualizing and analyzing key skills within your employee base? Find out how we use eye tracking to capture advanced...

Navigating Disruption: A Leader’s Guide to Strategy Under Uncertainty

Nov. 1, 2023
AI, sustainability, digital--industrials are facing disruptive forces that are redefining what it takes to win. What got your company where it is today won’t get you where you...

Are You Positioned To Tackle Supply Chain Risk?

Sept. 20, 2023
Supply chain disruption is here to stay, but you can keep ahead of potential issues — and identify new opportunities — by regularly assessing your suppliers. Download our supplier...

7 Crucial Steps to Improve Your OT Security

Oct. 23, 2023
Enhance OT security in manufacturing and production. Uncover the crucial steps to safeguard your operational technology. Protect against evolving threats and bridge the IT-OT ...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!