(Bloomberg) -- Altadis SA credit-default swaps fell
on speculation Imperial Tobacco Group Plc will raise its bid for
the world's largest cigar maker, trumping an offer from private
equity firms.
Contracts based on 10 million euros ($13 million) of
Altadis debt fell 10,000 euros to 58,000 euros today, according
to Deutsche Bank AG. The credit-default swaps, which are used to
speculate on corporate creditworthiness, had soared to 94,000
euros on concern buyout firms would load the Madrid-based
company with debt, prompting the company's investment-grade
credit rating to be cut to high-risk, high-yield.
Read more at Bloomberg Bonds News
on speculation Imperial Tobacco Group Plc will raise its bid for
the world's largest cigar maker, trumping an offer from private
equity firms.
Contracts based on 10 million euros ($13 million) of
Altadis debt fell 10,000 euros to 58,000 euros today, according
to Deutsche Bank AG. The credit-default swaps, which are used to
speculate on corporate creditworthiness, had soared to 94,000
euros on concern buyout firms would load the Madrid-based
company with debt, prompting the company's investment-grade
credit rating to be cut to high-risk, high-yield.
Read more at Bloomberg Bonds News
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