Ford's bonds extend losses after sales warning
NEW YORK (Reuters) - Bonds of Ford Motor Co extended losses on Friday after the automaker said its automotive results this year would be worse than 2007's as a slump in U.S. sales deepens.
Ford's bonds with a 7.45 percent coupon due in 2031 fell to 62.25 cents on the dollar, down from 64 cents before Ford's announcement and 65.5 cents on Thursday, according to MarketAxess. Ford also said it would be "difficult" to break even in 2009 and said it plans to cut its truck production further.
(Reporting by Dena Aubin; Editing by Tom Hals)
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