Abengoa Default Bets Pared as Talks Continue for New Funds
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Investors reduced bets against Abengoa SA amid speculation the Spanish renewable-energy company may be able to secure new funds.
The probability of default signaled by five-year credit-default swaps dropped to 88 percent from 94 percent on Thursday, according to data provider CMA. D.E. Shaw & Co. and BlackRock Inc. pared short positions in the company’s stock.