Default Risk News
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India’s lowest borrowing costs in almost 2 1/2 years are attracting non-AAA rated borrowers such as Peter England Fashions & Retail Ltd. to build on record first-quarter bond sales.
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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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Tata Steel Ltd. joined Bharti Airtel Ltd. selling junk bonds overseas as demand for relatively higher yields pushes issuance of non-investment grade debt by Indian companies close to a record.
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Falling oil prices are giving Turkey’s central bank scope for deeper interest-rate reductions, paving the way for the nation’s bond yields to reach new lows, according to the country’s biggest bank.
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The cost to insure the debt of Barrick Gold Corp. surged to the highest in four years after Moody’s Investors Service said it may downgrade the company’s bonds.
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German lawmakers approved a rescue for Cyprus as Finance Minister Wolfgang Schaeuble warned that refusing aid to a fifth crisis-ravaged state risked triggering a sovereign default and contagion to other euro nations.
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The political turmoil in Venezuela that erupted in electing Hugo Chavez’s successor is causing emerging-market debt investors to flood into Argentina, chopping its relative cost of borrowing by the most in four years.
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Slovenia eased concern that it will be the next euro-area state to need a bailout as investors scooped up twice the targeted amount in a debt sale yesterday. The country’s bonds surged and its default risk tumbled.
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Slovenian Prime Minister Alenka Bratusek said the government needs more time to repair public finances as an asset-sale plan failed to quell concern that the euro-area nation will be next to seek a rescue.
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Venezuela’s bonds tumbled the most in two months and the nation’s default risk rose as opposition parties challenged the election victory of ex-President Hugo Chavez’s handpicked successor, Nicolas Maduro.
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