Archive for May, 2012

Indian Rupee at record low as credit concerns loom

Contrary to yesterday’s rather positive news about Reliance Industries’ credit outlook, A recent report in the International Financing Review (IFR) highlighted a rather grim picture on Indian credits saying,

“It could go to stratospheric levels against the dollar

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Reliance on CDS

One of India’s largest companies, Reliance Industries, has seen its credit default swaps drop significantly this year. As highlighted in Bloomberg,

Confidence in the owner of the world’s largest oil-refining complex surged this year as the company reported cash

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TEPCO swaps – 1 year later

As highlighted in Bloomberg,

Tokyo Electric Power Co.’s credit- default swaps plunged to the lowest in a year after Japan’s government agreed to a 1 trillion yen ($12.5 billion) bailout for the owner of the stricken Fukushima nuclear plant.

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Chesapeake Energy CDS is energized

It is no secret that one of America’s largest natural gas energy companies has seen its stock price plummet after all the negative news of Chesapeake Energy CEO Aubrey McClendon’s concerning transactions have come to light. How has the debt …

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London Whale costs JPMorgan 17 bps in credit risk

17 basis points according to last Friday’s market.  JPMorgan Chase’s unexpected billion-dollar trading losses caused the company’s (as well as its competitors’) credit default swaps to jump by just that much. Not everyone may call it unexpected, however, as …

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Markit iTraxx Japan exceeds 200

The benchmark index (iTraxx Japan Series 17) of Japanese credit default swaps crossed 200 basis points this week closing most recently at 204 basis points. That level is the highest in over 5 months. The Markit iTraxx Australia CDS index …

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define security-based swap dealer

The SEC is following through on proposals from last year to define a security-based swap dealer. If its latest definitions go into law, this is what you might find if you were to ask google to define it.

security-based swap

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To IG or not IG – that is the question

On one had you had Ford Motor being upgraded by Fitch Ratings to investment grade rating just over a week ago causing the biggest gain (fall in spread) in the automaker’s CDS this year settling in the 269 bps range

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Eircom auction results

The Eircom double European loan credit default swap (E-LCDS) auctions were held yesterday. The LCDS tied to first lien debt settled on a final price of 62 and the second lien debt settled on a final price of 7.125.

The …

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Hawker Beechcraft auction results

The CDS settlement auction for Hawker Beechcraft Acquisition Co LLC last week and the final price was set at 63.5.

The company which Raytheon sold to Goldman Sachs Capital Partners & Onex in a $3.3 billion buyout in 2007

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