Dabbling in the murky world of junk bonds is often a fraught exercise, but not without rewards for yield-hungry investors.
Oman's MB Petroleum Services, an oilfield company, was one of the first companies in the region to tap markets with a "high-yield" issuance, as such bonds are also known.
But the bond's performance has lived up to its billing - in all the wrong ways - according to Exotix. The specialist investor in illiquid investments initiated coverage of the company's bonds with a "hold" rating yesterday.
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