JPM - GM Bolsters Finances with $6B Credit - Is It For Bracing Extended UAW Strikes? | Benzinga
General Motors Company (NYSE: GM) established a $6 billion credit line with a 364-day revolving credit agreement with JP Morgan Chase & Co. (NYSE: JPM).
The facility requires that GM maintain at least $4 billion in global liquidity and $2 billion in U.S. liquidity, the auto behemoth said in an exchange filing.
The credit agreement is reportedly a strategic move that underscores the automaker's preparation for an extended strike that could potentially impact its financial reserves, according to a report by Bloomberg.
The UAW strikes have already led ...