Junk Market Stigma Haunts Vestas as Traders Ignore Credit Ascent
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Vestas Wind Systems A/S is having a hard time shaking off its past in the junk bond market.
The biggest maker of wind turbines is still haunted by the performance of its previous bonds, which at one point yielded 26 percent. Danske Bank A/S is recommending clients buy the debt amid an improved credit profile, according to Niklas Ripa, a senior credit analyst. Danske has assigned Vestas a shadow rating of BBB-, the lowest investment-grade rank.