Ford now sees a far bigger first-quarter loss — $2 billion
The Dearborn, Michigan-based company, which lost its investment grade status in March, said it has filed for a three-part unsecured debt offering, but did not disclose the amount. Ford, which has drawn down over $15 billion to ride out the damage to its business from the pandemic, said it had to put up certain assets as security for the loans because it does not maintain an investment grade status. Separately, Ford warned that its production of high-priced versions of pickups and sport utility
