MARKET TALK: CDX IG14 Widens As Fitch Downgrades BP

15th Jun 2010 13:25

1220 GMT [Dow Jones] The benchmark U.S. credit default swaps index opens wider, hours after Fitch downgraded BP's long-term rating to BBB from AA. BP's ratings cut comes a day after Moody's lowered Greece's sovereign debt rating to Ba1 from A3. The Markit CDX IG14 was trading 1.0 BP wider at 123.5BP, according to Markit. The iTraxx Europe spread was 3.2BP wider to 129.6BP, and the CDX high-yield North American index rose 0.3 to 94.7. ([email protected]) Contact us in New York. Darlene Ross, 212 416-2166; [email protected] (END) Dow Jones Newswires June 15, 2010 08:25 ET (12:25 GMT)

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