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Visteon

According to Reuters, Auto parts maker Visteon Corp may choose to forgo a bond interest payment due in March and instead try to sure up financing to fund itself through a bankruptcy restructuring, research firm KDP Investment Advisors said. After reporting its eighth-straight annual loss, Visteon Corp. said Wednesday it could also breach its loan agreements.

On March 10, Visteon owes more than $15 million in interest on $440 million in bonds. Those bonds were trading for only $0.047 on the dollar Wednesday afternoon. That puts the current value of the bonds at about $21 million.

Visteon's sales declined 15% in 2008 and 42% for the fourth quarter, compared with the same previous-year periods. Visteon ended 2008 with $1.2 billion in cash and cash equivalents. But the supplier has exhausted its credit lines.

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