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.

About the Author

Agence France-Presse

Copyright Agence France-Presse, 2002-2024. AFP text, photos, graphics and logos shall not be reproduced, published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. AFP shall not be held liable for any delays, inaccuracies, errors or omissions in any AFP content, or for any actions taken in consequence.