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GM cancels $4.1 billion line of credit
Back in June 2007, GM was staring a lot of financial variables in the face. To help alleviate a potential cash crunch, the General took out a $4.1 billion line of credit with a syndicate of banks to ensure that bills would get paid in the event of an emergency. The UAW negotiations have come and gone, and the Cadillac CTS and Chevy Malibu have launched without the General needing to dip into the credit line, so GM terminated the agreement. The automaker informed the U.S. Securities and Exchange Commission that it had "sufficient liquidity and ... Read more →
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GM cancels $4.1 billion line of credit 1 year ago on Autoblog
Back in June 2007, GM was staring a lot of financial variables in the face. To help alleviate a potential cash crunch, the General took out a $4.1 billion line of credit with a syndicate of banks to ensure that bills would get paid in the event of an emergency. The UAW negotiations have come and ...
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