PPRuNe Forums - View Single Post - APA Bid fails to get 50% (Merged)
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Old 4th May 2007, 13:54
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Taildragger67
 
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Well, the market's perception of the outlook for Qantas as a credit (ie. its credit-worthiness) has changed now that the prospect has reduced of $4bn being ripped out and the company saddled with oodles of debt... CDS spreads have apparently tightened in 110bp (ie. the amount over risk-free debt that a giver of protection over Qantas credit would demand to take on that risk as dramatically reduced).
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