Archive for February, 2012

Eastman Kodak CDS auction results

It looks like creditors expect to recover slightly more from the Eastman Kodak bankruptcy process than they do from the AMR (American Airlines) bankruptcy process based on the final price of 23.875 that was set for all credit default swaps …

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Northern Rock Asset Management settlement auction result

The second settlement¬†auction for the year was held earlier this month for Northern Rock Asset Management PLC (NRAM). The restructuring credit event was announced at the end of last year (Dec. 19). However, unlike many …

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Wells Fargo’s relative CDS performance

Wells Fargo credit default swaps are tightening relative to the other major American banks as investors find comfort in is smaller geographic footprint and less volatile business activities. Currently WFC CDS trades around 110 bps.

While credit-default swaps on Wells

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Greek CDS could payout afterall

New legislation being talked about in the Hellenic Republic to force bondholders to accept bond writedowns could be a boon for protection holders as it could be an integral event necessary to trigger payouts on the over $3 billion in …

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Turkey CDS update

An update to Bloomberg’s report on Turkish credit default swaps (and its markets in general) from last week when they were 266 bps.

Turkish default swaps fell 10 basis points, or 0.1 percentage point, today to 256, compared with

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Turkey CDS

As reported in Bloomberg,

Turkish companies have a record 307 billion liras ($174 billion) of debt maturing this year just as their domestic borrowing costs rise to the highest in almost three years and HSBC Holdings Plc predicts foreign

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Sampling of some CDS prices for this week

Some of the latest CDS prices for companies in the midst of reporting earnings. Prices from Fitch.

Amkor Technology 440 bps
Cisco Systems 87 bps
Computer Sciences Corporation 418 bps
CVS Caremark 52 bps
Gannett  299 bps
Kimco Realty …
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Fiat could be downgraded

Weakening auto markets in Europe have led Standard & Poor’s to warn of a possible downgrade of Italian automaker, Fiat’s, credit rating.

Fiat, which also owns luxury car makers Ferrari and Maserati, is Italy’s biggest private sector employer and has

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Current Portuguese credit curve

The current credit curve for Portugal as measured by CDS. Graph from Fitch.

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Energy Future gets a second chance

Energy Future Holdings which narrowly escaped a technical event of default last year appears to be progressing on its sprint away from bankruptcy. The company which has been in the news for some time now has been the focus of …

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