US CREDIT-Ford tighter; investors see silver lining

Newswire

NEW YORK, July 26 (Reuters) - Heavy selling in Ford Motor Co.'s bonds has given way to a steady rally as investors reassess risks and applaud the company's plans to step up its restructuring. More gains may be in store, some analysts say. The cost of protecting Ford's debt against default has tumbled 135 basis points and spreads on its benchmark long bonds have tightened by nearly half a percentage point since Ford posted an unexpected $123 million second-quarter loss on Thursday. The ...

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