Eastern European CDSs move out

The cost of credit protection on the sovereign debt of several eastern European states rose in early trading today, despite a €24.5 billion aid package for the region's ailing financial sector promised on Friday by three international multilateral agencies.

Five-year senior credit default swap (CDS) spreads referencing Lithuania moved out to 831.7 basis points at 14:00pm today from 800bp at close of trade in New York on Friday, while CDSs on Estonia widened to 720.9bp from 685.3bp, according to data from credit information specialist CMA Datavision.

CDS spreads also widened on Bulgaria by 50.8bp to 645.8bp, and moved out 29.6bp on Hungary to 592.9bp. Credit protection on Russia rose by 14.5bp to 779.1bp, while pushing out by 30.6bp on Kazakhstan to

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