Jaguar Bond Risk Falls Most on Record as China Sales Revive
- British carmaker’s CDS plunges close to the lowest in a year
- Cost cuts and China sales may help to cut default risk further
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Sentiment toward Jaguar Land Rover Automotive Plc is improving at an unprecedented pace, after stabilization in its China business helped the premium British carmaker’s parent report a narrower loss than expected.
So say the debt markets, where credit-default swaps insuring against default at the company dropped a record 268 basis points in October to 538. The cost to buy protection against Jaguar bond non-payment had been as high as 943 basis points in February.