Ford Motor Co on Thursday moved to hoard cash on its balance sheet, drawing down $15.4 billion from two credit lines and suspending its dividend, in a move to bolster reserves to ride out damage to its business from the coronavirus pandemic. The move will give Ford more than $37 billion in cash, almost matching the revenue it reported in the fourth quarter. Morgan Stanley analyst Adam Jonas said in a research note that corporate liquidity during the outbreak was “top of mind” and that U.S. automakers had strong balance sheets. …read more
Source:: Yahoo Finance
