According to the market research arm of Moody’s Investors Service (NYSE:MCO), BP (NYSE:BP) credit default swaps are trading at investment-grade levels.
BP debt protected by credit default for a five year period dropped 3.4 basis points to 188.5 shortly after 11:00 AM EDT in New York, according to CMA, a provider of data for the industry. CMA data reveal the CDS contracts have dropped 681 basis points since June 16.
Trading levels imply the company is trading at a rating of Baa3, while Moody's has a rating of A2 on the debt, four levels about the implied rating.
Baa3 is the lowest rung of the investment-grade rating system of Moody's.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment