Ford mentioned Thursday that it might droop its dividend and withdraw its 2020 steering as the corporate tries to shore up its money amid the coronavirus pandemic. 

Ford additionally mentioned it might draw $15.Four billion from two credit score traces. The corporate mentioned that it plans to borrow $13.Four billion below its company credit score facility and an extra $2 billion below its supplemental credit score facility.

Shares fell 2% in early buying and selling to $4.40 after tumbling 8% pre-market. 

"Like we did within the Nice Recession, Ford is managing by means of the coronavirus disaster in a manner that safeguards our enterprise, our workforce, our clients and our sellers throughout this important interval," mentioned Ford CEO Jim Hackett in an announcement. "As America's largest producer of automobiles and largest employer of autoworkers, we plan to emerge from this disaster as a stronger firm that may be an...