August 15, 2007 / 8:18 PM / 12 years ago

Countrywide commercial paper trading at 6 pct-investor

NEW YORK, Aug 15 (Reuters) - Countrywide Financial Corp.’s CFC.N 30-day unsecured commercial paper is yielding 6 percent to 6.25 percent on Wednesday, according to Deborah Cunningham, chief investment officer for money markets at Federated Investors.

The U.S. mortgage lender’s shares have plunged partly because of speculation that it could not sell short-term debt, or would have to offer exorbitantly high yields, making it difficult to conduct day-to-day operations. For details, see [ID:nN15253338].

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