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DJ Petrobras CDS at Lowest Level in Five Years -- Market Talk
Last update: 17/11/2014 5:59:57 pm
15:59 EST - Alleged corruption at the Brazilian state-run firm has led to the biggest credit default swap spreads at the company in more than five years, according to Fitch Solutions. Five-year CDS on Petrobas widened 21% last week, the widest since early-2009., Fitch says. Petrobras shares were down 6% today after the company said it would miss its 2014 oil production target, and delayed its 3Q earnings report amid a growing corruption scandal. (
william.connors@wsj.com; @wconnors)
(END) Dow Jones Newswires
November 17, 2014 15:59 ET (20:59 GMT)
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