Ford issues $8 billion debt securities after virus causes $2 billion loss

Ford to issue debt securities after virus triggers $2 billion loss

Ford on Friday 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 its dividend for the quarter.

Now, Ford has more breathing room financially, and federal and state officials this week said they expect coronavirus lockdowns to begin easing, possibly allowing auto plants to begin building vehicles again early next month. Only Ford’s joint ventures in China, where the pandemic has been receding, are currently producing vehicles, and dealers there have resumed work.

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