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Credit Market Commentary: Market Derived Signal: Japan Events Rattle CDS Spreads On U.S. Utilities
Standard & Poors, March 2011
Credit default swap (CDS) spreads on utilities that generate nuclear power widened significantly over the week ended March 18 as concerns about the safety of nuclear plants grew in the wake of the massive earthquake and tsunami in Japan, Bloomberg reported Friday. Already, lawmakers in the U.S. have called to ban such facilities in areas vulnerable to earthquakes. Five-year CDS spreads on Entergy Corp., Southern Co., Progress Energy Inc., and Exelon Corp. widened by 29.6%, 28.7%, 26.4%, and 11.3%, respectively over the past week, according to CMA DataVision. The spread on Exelon subsidiary Exelon Generation Co. LLC expanded by 17.1 to 143 basis points (bps), the data showed. Exelon is the largest nuclear power producer in the country, according to
Companies mentioned in this report are: Entergy Corp.,Southern Co.,Exelon Corp.,Progress Energy Inc.
Entergy Corp.,Southern Co.,Exelon Corp.,Progress Energy Inc.