Credit protection for British Energy now trading on an upfront basis only
Credit protection for UK-based nuclear power company British Energy is now trading only on an upfront basis. Rating agency Standard & Poor’s lowered the long-term corporate credit and senior unsecured debt ratings on British Energy to BB from BBB after the company issued an insolvency alert yesterday.
Credit protection for Swiss-Swedish engineering firm ABB also widened back out this week to 1,000/1,400bp, following news of the forced resignation of chief
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