Fitch Backs Calls for Sovereign CDS Reform
By Michael Mackenzie
Published November 27 2011 Financial Times
Calls to reform the market for insuring against the default of sovereign debt have been backed by a leading credit rating agency following the voluntary deal for exchanging Greek bonds proposed last month. The usefulness of so-called credit default swaps to act as insurance on sovereign debt for investors has been increasingly called into question by market participants following the Greek deal.
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