DETROIT — General Motors says it has received $11 billion in credit lines from 35 financial institutions in 14 countries, boosting its available cash and credit to more than $42 billion.
The company would not say specifically what it plans to do with the money, only that it is a source of ‘‘backup liquidity’’ that may be used for ‘‘strategic initiatives.’’
But analysts said it could be hoarding the cash to buy back stock from the US government. The Treasury Department owns 26.5 percent of the company, which it got in exchange for a $49.5 billion bailout. Analysts also say the cash could be used to help pay for restructuring GM’s troubled European operations, buying an auto finance arm in Europe from Ally Financial, or further funding its pension plans.