(Bloomberg) -- British Airways Plc credit-default
swaps fell to a record low after Standard & Poor's lifted its
debt ratings on Europe's third-largest airline to investment
grade for the first time in four years.
Contracts based on 10 million euros ($13 million) of
British Airways debt fell 18,000 euros to 59,500 euros,
according to Deutsche Bank AG. It was the biggest one-day drop
in more than four years for the contracts, which are used to
speculate on a company's ability to repay debts. A decline
indicates improved perceptions of credit quality.
Read more at Bloomberg Bonds News
swaps fell to a record low after Standard & Poor's lifted its
debt ratings on Europe's third-largest airline to investment
grade for the first time in four years.
Contracts based on 10 million euros ($13 million) of
British Airways debt fell 18,000 euros to 59,500 euros,
according to Deutsche Bank AG. It was the biggest one-day drop
in more than four years for the contracts, which are used to
speculate on a company's ability to repay debts. A decline
indicates improved perceptions of credit quality.
Read more at Bloomberg Bonds News
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