Ethiopia becomes Africa’s latest sovereign default
LONDON (Reuters) – Ethiopia became Africa’s third default in as many years on Tuesday after it failed to make a $33 million “coupon” payment on its only international government bond. Africa’s second…
Explainer-Ukraine pushes for debt freeze to dodge hard default
By Karin Strohecker and Jorgelina do Rosario LONDON – Ukraine has asked its creditors for a two year payment freeze on its international bonds in a bid to focus its dwindling financial…
Analysis: Sanctions on Russia’s debt entangle default insurance payouts
By Davide Barbuscia and Karin Strohecker NEW YORK – Investors hit by Russia’s debt default may have to settle some of their positions privately if the U.S. Treasury does not green-light an…
S&P upgrades Chinese developer Greenland days after cutting to ‘selective default’
HONG KONG – S&P Global Ratings raised Greenland Holdings Corp Ltd by one notch to “CCC” on Wednesday, after the Chinese state-backed property developer completed a one-year maturity extension on $500 million…
Japan says hard to confirm impact from Russia’s debt default
TOKYO -Japanese Finance Minister Shunichi Suzuki said on Tuesday that it was “a little difficult” at present to confirm the definite impact on Japan from Russia’s debt default. Suzuki, who commented on…
Explainer-Faced with Russia default, bondholders brace for legal maze
By Jorgelina do Rosario and Rodrigo Campos LONDON/NEW YORK – Holders of Russia’s external debt, which Washington says is already in default, face unusual circumstances: Moscow has the funds and says it…
Russia pays dollar-bonds in roubles as it seeks to avoid default
LONDON – Russia’s finance ministry said on Thursday it had fulfilled obligations on two dollar-denominated Eurobonds “in full” by sending interest payments in roubles to its National Settlement Depository, in its latest…
Putin signs decree on new scheme to service Eurobonds as default looms
LONDON – President Vladimir Putin signed a decree on Wednesday to establish temporary procedures aimed at fulfilling Russia’s foreign debt obligations as the country teeters on the brink of default. The Kremlin…
Column-A ‘hurricane’ of double-digit default rates :Mike Dolan
By Mike Dolan LONDON – If indeed there is an economic hurricane coming, then someone should shake the junk bond market. JPMorgan boss Jamie Dimon publicly fretted last week that while the…
Plagued by default fears, Russian e-commerce player Ozon boosts spending
(Reuters) – Flagging escalating fears it may default on some corporate debt, Russian e-commerce player Ozon said it has increased its capital expenditure and seen free cash flow turn negative as it…
School and Owner Pay Over $1 Million to Resolve Allegations of Attempts to Improperly Influence the School’s Student Loan Default Rate
Vanessa Roberts Avery, United States Attorney for the District of Connecticut, today announced that CAREER TRAINING SPECIALISTS, LLC, doing business as STONE ACADEMY, and its owner, MARK SCHEINBERG, have paid more than…
U.S. Treasury pushes Russia towards default: What next?
By Karin Strohecker and Sujata Rao LONDON – Russia edged closer to a historic debt default on Wednesday after the United States decided against extending a key license that had allowed Moscow…
Goldman Sachs expects one third of HY China property firms to default in 2022
LONDON – Goldman Sachs said on Friday it now expects around one third of high-yield China property firms to default in 2022, with stresses on bonds increasingly emerging through maturity extensions. Since…
Explainer-Washington holds key to Russia’s sovereign default
By Karin Strohecker and Jorgelina do Rosario LONDON – The prospect of a Russia sovereign default is moving centre stage again with a deadline for a U.S. license allowing Moscow to make…
Analysis-Aircraft lessors gird to battle insurers over Russia jet default
By Padraic Halpin, Conor Humphries and Tim Hepher DUBLIN – Lessors with hundreds of jets stuck in Russia are preparing for what one said would be a “vigorous” pursuit of insurance claims…
Russia swerves to avoid default: what is next?
By Rodrigo Campos and Davide Barbuscia NEW YORK – Russia may have averted default as it announced it had made several overdue payments in dollars on its overseas bonds, shifting the market’s…
Russia makes last-gasp dollar bond payments in bid to avoid default
(Reuters) – Russia made what appeared to be a late u-turn to avoid a default on Friday, as it made a number of already-overdue international debt payments in dollars despite previously vowing…
S&P cuts Sri Lanka to ‘selective default’ on missed payments
(Reuters) – S&P Global Ratings cut Sri Lanka’s rating as an issuer of foreign currency debt to ‘selective default’ after the South Asian country missed sovereign bond interest payments, S&P said on…
Russia faces risk of “orchestrated” default on state debt -VTB CEO
(Reuters) – Russia may face an “orchestrated” default on state debt due to Western sanctions which should not be seen as a technical default, the CEO of Russia’s second-largest lender VTB Andrey…
Determinations committee says Russia in potential default on sovereign debt
LONDON -A derivatives panel has ruled on Wednesday that Russia could be in default after it failed to make a payment due on April 4 in U.S. dollars on two sovereign bonds,…
Kremlin says there is no reason for Russian debt default
(Reuters) – The Kremlin said on Monday that Russia had the resources to pay its debt so there was no objective reason for a default. “There can only be a technical, man-made…
Russia, facing default risks, says will do all possible to pay creditors
(Reuters) – Russia will do everything to make sure its creditors receive their money, Finance Minister Anton Siluanov said on Thursday, a day after the country edged closer to a potential default…
Analysis-Russia debt investors in limbo as default risk increases
By Davide Barbuscia, Alexandra Alper and Karin Strohecker NEW YORK/WASHINGTON/LONDON – Investors in Russia’s international bonds face an increasingly uncertain path to recover their money should Russia ultimately default, while the country…
Russia, China woes risk worst EM corporate default wave since financial crash – JPMorgan
By Marc Jones LONDON – JPMorgan has warned that the combination of Russia’s war in Ukraine and China’s ongoing property crash could see the worst wave of corporate defaults since the global…
Goldman says China high-yield developers’ default rate understates stresses
SHANGHAI – Chinese high-yield property issuers have by one measure defaulted on nearly a quarter of their outstanding bonds this year, Goldman Sachs analysts estimated, highlighting liquidity stress as Beijing looks to…
Russia rouble payment of USD coupons would be a sovereign default -Fitch
NEW YORK – Credit ratings agency Fitch said on Tuesday that if Russia were to make two U.S. dollar bond coupon payments due Wednesday in roubles, it would constitute a sovereign default…
Breaking News
