UPDATE 2-Mulally says Ford can accelerate debt repayment


* Says will improve balance sheet * Says Ford is paying a bit more interest than some rivals (Adds details on Ford debt reduction plans, background) NEW YORK, March 31 (Reuters) - Ford Motor Co Chief Executive Officer Alan Mulally said on Wednesday the No. 2 U.S. automaker would be able to speed up the repayment of its debt as its financial results improve. Ford, the only large U.S. automaker to avoid bankruptcy last year, borrowed more than $23 billion in late 2006, putting up ...

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