(Reuters) - Standard & Poor's raised Reynolds to "BBB-minus," the lowest investment grade ranking, on April 12, and revised its rating outlook to positive from stable. For details, see [ID:nN12351570].
The cost to insure Reynolds' debt with credit default swaps has fallen to around 65 basis points, or $65,000 per year for five years to insure $10 million in debt, from 102 basis points before the upgrade.
Read more at Reuters.com Bonds News
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