Ford Plans to Reduce Debt by $3 Billion
February 11, 2011 at 00:25 AM EST
Ford Motor co. (F) on Thursday said it will pay down another $3 billion in debt in the first quarter as it works toward the goal of regaining its investment-grade credit rating. The auto-maker plans to redeem $3 billion in preferred securities in March, reducing annual interest costs by about $190 million. As of December [...]