“Alcatel-Lucent (ALU) investors drove down the cost of insuring the phone-equipment maker’s debt by more than any other European technology company this year as its bonds imply a two-level credit-rating boost.
Credit-default swaps protecting the Paris-based company’s debt from default for five years have fallen 646 basis points, or 36 percent, compared with the 31 percent decline for second- best performer Cap Gemini SA (CAP), according to CMA in New York. The contracts imply a Ba2 rating, according to Moody’s Analytics, higher than its current B1 grade….”
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