Toshiba Bond Risk Recedes as Nuclear Fears Ease: Japan Credit
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Toshiba Corp., Japan’s largest maker of nuclear power plants, is rebounding in credit markets as demand for computer chips and displays helps ease concerns over the impact of the Fukushima crisis on earnings.
The cost of insuring Toshiba’s debt for five years fell to a four-week low of 92 basis points on July 22 from 175 five days after the earthquake, according to CMA data. The average cost of swaps insuring the debt of 66 technology companies, including Toshiba’s biggest rival in chips Samsung Electronics Co., rose 31 basis points to 218 in the same period, according to Bloomberg data.