Struggling auto parts supplier Delphi Corp. on Wednesday said it had not drawn on the remaining $US300 million under its $1.8 billion credit line, shooting down market rumors that it had completely tapped out that source of liquidity, Reuters reported.
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The report noted that the company’s shares slid more than 10% to an all-time low on Tuesday as concerns mounted about Delphi’s financial condition.
In an interview with The Wall Street Journal published on Wednesday, Delphi’s chief executive said he would prefer to fix the company without filing for bankruptcy, the news agency noted.
