US CREDIT-Lear seen worth owning despite Ford cuts

Newswire

NEW YORK, Aug 31 (Reuters) - A fresh round of production cuts by Ford Motor Co. may make it harder for auto supplier Lear Corp. to meet some of its 2006 financial forecasts, but the company's bonds are still worth owning, analysts say. Ford said earlier this month that it would cut fourth-quarter production to its lowest level in 25 years as it accelerates a turnaround plan that has not yielded results as fast as it had hoped. Ford said it was making the move for its long-term future, even ...

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