UPDATE 1-Credit gauge shows Ford catching up to rival GM


(Updates with details, closing spreads, paragraphs 4-6, 9-14) By Eric Burroughs NEW YORK, June 20 (Reuters) - In just 2-1/2 months, credit market investors have taken a brighter view of the once dour prospects of No. 2 U.S. auto maker Fotor Motor Co. versus its bigger rival General Motors . In one closely watched gauge, the credit default swap spreads of Ford Motor Credit Co., the finance arm of Ford Motor Co. that issues the bulk of the company's debt, have shrunk sharply to match ...

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