Fitch: Spreads Hit New Post-Crisis Lows, Down 80% from Peak

April 22, 2015 2:38 PM

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(The following statement was released by the rating agency) NEW YORK, April 22 (Fitch) Credit investors continued in 1Q15 to push spreads lower against a backdrop of rising interest rate risk and generally weak global economic growth fundamentals, pushing the Fitch Solutions US All-Industry CDS index to a new post-crisis low.

Energy company CDS spreads took the hardest hit against a backdrop of falling oil prices. Measured year over year, the CDS index fell by 8.4%, reaching its lowest level since 2Q07. The cost of insuring corporate credit remains well above pre-crisis levels, but the index has now fallen to just over 1...

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