Fresh jitters in Dubai on Monday morning.
RTRS-DUBAI FIVE-YEAR CREDIT DEFAULT SWAPS RISE TO 651 BPS FROM 627 AT FRIDAY CLOSE-CMA
RTRS-DUBAI FIVE-YEAR CDS RISE ABOVE NOV 2009 LEVELS TO HIGHEST SINCE MARCH 2009-CMA
RTRS-NAKHEEL’S 2011 ISLAMIC BOND FALLS 3.5 POINTS TO 50, LOWEST SINCE DECEMBER
The cause? Reports in the Anglo Saxon press (where else?) that Dubai World, which is seeking a standstill deal with bank creditors over multibillion-dollar debt, might repay lenders just 60 cents in the dollar.
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