Ford: Fearful of Cash Crunch?

Ford Motor Credit refinances its debt at the highest rate it has ever paid to conserve cash with the threat of tough times ahead

Ford Motor (F) is conserving cash to brace for what could be a tough 18 months ahead. Evidence is the auto maker's offer to investors on May 24 to replace Ford Motor Credit bonds maturing this October with bonds that don't come due until 2010 and 2011 -- at the highest rate of interest Ford has ever paid.

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