Enbridge Credit Risk Falls on Pipeline to U.S.: Canada Credit
This article is for subscribers only.
Credit-default swaps on Enbridge Inc. and TransCanada Pipeline Ltd., Canada’s biggest pipeline companies, were among the country’s largest decliners over the last month, as new pipeline links to the U.S. boost cash flow.
The cost to protect Enbridge’s bonds from default fell 15.9 basis points over the last 30 days, the fourth-biggest drop among the 30 Canadian companies tracked by Bloomberg. Swaps on TransCanada Pipeline fell 13.3 basis points. Credit-default swaps decline as investor confidence improves.