Default Risk News
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Investors may still find value in speculative-grade corporate bonds paying record-low yields as a falling default rate curbs the risk of losses, according to Margie Patel, a money manager at Wells Capital Management Inc.
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The U.S. Supreme Court bolstered the authority of federal administrative agencies, upholding Federal Communications Commission deadlines for local zoning authorities considering applications for new wireless facilities.
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India is using a surge in inflows into local bonds and equities to rebuild its currency reserves, boosting its ability to avoid a junk debt rating.
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Codere SA, the Spanish gambling company that last week reported its worst earnings in more than two years, sunk to a record after Moody’s downgraded its credit rating on concern it may default on loans by the end of June.
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Swedish Finance Minister Anders Borg said he won’t cave to pressure from banks or the European Union to harmonize standards and insists capital ratios in the largest Nordic economy need to be higher than those elsewhere.
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Investors seeking higher yields are buying structured notes tied for the first time to the debt of emerging-market nations from the Bahamas to Lithuania and Honduras.
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Time may be running out for Alenka Bratusek, the Slovenian prime minister who is resisting a bailout as global bond markets put her on the front lines of Europe’s debt crisis.
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Greece won an upgrade by one level from Fitch Ratings, which cited the country’s progress in rebalancing the economy and bringing its deficits under control.
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A gauge of U.S. corporate credit risk rose for a third day as investors considered the pace of stimulus measures while Group of Seven finance ministers and central bankers meet in the U.K.
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After suffering through devaluations, three years of economic contraction and a banking crisis in the 1990s, Sweden has learned how to handle financial turmoil.
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