France's Michelin says it has funds to deal with coronavirus crisis

PARIS (Reuters) - French tire maker Michelin said on Wednesday it had sufficient sources of financing to deal with the fallout from the coronavirus crisis. In a statement on first-quarter earnings, the firm said it had 2.3 billion euros (2.01 billion pounds)in cash and cash equivalents and 1.5 billion euros in undrawn confirmed lines of credit as of April 28. It also said it had no bonds falling due before first half of 2022.