A Key Borrowing Spigot Opens for Ford – Wall Street Journal (subscription)

Posted: Monday, July 10, 2017

A handful of investors recently began extending short-term loans to an affiliate of Ford Motor Co. after more than a decadelong hiatus, opening a key borrowing spigot for the blue-chip auto maker, which was locked out of money markets in the last recession.

In recent months, a money-market fund of Federated Investors has been buying a kind of short-term IOU called “commercial paper” from Ford Motor Credit Co. LLC. The Federated…

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