24 octobre 2008
Russian default risk tops Iceland as crisis deepens
source: Telegraph
The cost of insuring Russian bonds against bankruptcy rocketed to
extreme levels yesterday. Spreads on credit default swaps (CDS) reached
1,123, higher than Iceland's debt before it sought a rescue from the
International Monetary Fund.
Russian companies must roll over $47bn of foreign loans over the next
two months, and a further $150bn or so next year, a task that has
become close to impossible as investors flee Eastern Europe.