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Credit: AFP File Photo
Ford Motor Co said on Thursday it would draw down $15.4 billion from two of its existing credit lines and suspend dividend to preserve cash as it battles a hit to its business from the fast-spreading coronavirus.
The No. 2 U.S. automaker, which also withdrew its 2020 finnacial forecast, said the additional cash from the borrowings will be used to offset the temporary working capital impacts of the coronavirus-related production shut downs and to preserve.
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