Oil Sands Swaps Show Producers Rewarded for Cuts: Canada Credit
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A wave of cost-cutting in Canada’s oil patch is prompting bond investors to pick which companies will best withstand the collapse in crude prices.
After the cost to insure the debt of some of Canada’s largest energy producers soared to multiyear highs, those premiums have started to come down in the last week as companies shore up their balance sheets to survive the slump by cutting capital spending and jobs.