Edition:
United States

Melissa Mott

Avon's CDS widens sharply on turnaround, legal cost fears

Oct 31 2013

NEW YORK, Oct 31 (IFR) - The cost of insuring Avon Products debt against default rose to a three-month high on Thursday after the company missed third quarter earnings expectations and warned that it would likely cost more than expected to settle a bribery probe.

Safeway CDS widen on leveraged buyout talk

Oct 23 2013

NEW YORK, Oct 23 (IFR) - The cost of insuring Safeway Inc's debt against default rose sharply on Wednesday on talk that a handful of buyout firms are exploring a deal for all or part of the supermarket chain.

Rite Aid CDS at tightest level since 2004

Sep 20 2013

NEW YORK, Sept 20 (IFR) - Rite Aid Corp's credit default swaps (CDS) spreads are at their tightest level since at least 2004 this week as the US drug store chain announced an unexpected quarterly profit and lifted its 2014 guidance.

Energy Future Holdings, Texas Competitive CDS show severe stress

Sep 06 2013

NEW YORK, Sept 6 (IFR) - Interest in purchasing credit protection has resurfaced in Energy Future Holdings Co after another rating agency recently underscored the plausibility it may be headed toward a credit event sooner, rather than later.

Verizon CDS widens on Wireless stake buyout talk

Aug 29 2013

NEW YORK, Aug 29 (IFR) - The cost of insuring Verizon Communication's debt against default rose on Thursday after Vodafone Group said it was in talks with the company to sell its 45% stake in their U.S. joint venture Verizon Wireless.

Campbell Soup sees CDS grind wider ahead of results

Aug 21 2013

Aug 21 (IFR) - Campbell Soup Co has seen its credit default swaps (CDS) grind slowly wider over the past couple weeks, as the US food giant gets ready to release fourth-quarter and full-year earnings next week.

Safeway CDS trading at virtual junk levels

Aug 16 2013

Aug 16 (IFR) - Five-year credit default swaps (CDS) in US supermarket chain Safeway are trading at levels that essentially consider the investment-grade company's debt as junk-rated bonds - and that's unlikely to improve in the short to medium term.

US retailer CDS pressured by headwinds

Aug 15 2013

NEW YORK, Aug 15 (IFR) - US retailers could see the cost of insuring their debt against default rise in coming months if recent results are anything to go by, as a slowdown in consumer spending starts to bite.

Muted widening in Macy's CDS after second-quarter miss

Aug 14 2013

Aug 14 (IFR) - Macy's reported a softer-than-expected quarter. The retailer typically is an outperformer in the retail CDS sector, and while market expectations for the second quarter were already low bar, Macy's missed on earnings per share, sales and guided lower for the second half of the year.

JC Penney CDS narrows after Ackman's departure

Aug 13 2013

Aug 13 (IFR) - Credit default swaps (CDS) in JC Penney snapped tighter across all maturities on Tuesday after activist investor Bill Ackman resigned from the company's board following a bitter fight over the future of the troubled retailer.

World News

Suu Kyi in court as genocide case set out against Myanmar

Mass rapes, the burning alive of Muslim Rohingya families in their homes and the killing with knives of dozens of children were described by Gambia's legal team as it set out its genocide case against Myanmar at the U.N.'s highest court on Tuesday.