US businesses opening slowly amid Covid-19 but lack liquidity
Companies of all sizes have been bracing for at least months of limited revenues and are racing to increase credit
14 April 2020 - 15:14
Chicago — Charlie Straface, president of Norwegian aluminium maker Norsk Hydro’s North American extrusion operations, convenes a coronavirus task-force every other day to draw up cost-cutting measures to offset declining revenues and protect the unit’s cash balance during the economic slump related to the pandemic.
With little clarity on when the US economy will open again, companies of all sizes have been bracing for at least months of limited revenues. With about $500bn of corporate debt due to mature this year and in 2021, many businesses must conserve cash and bolster liquidity...
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