April 6, 2009 / 1:54 PM / 10 years ago

UPDATE 4-Ford slashes automotive debt 38 pct, shares rise

* Automotive debt cut by $9.9 billion

* Annual interest expense reduced by $500 million

* Analysts see reduced risk of bankruptcy

* Shares up about 19 percent (Updates share prices, adds additional analyst comments)

By Soyoung Kim

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