UPDATE 1-Continental CDS move to upfront on liquidity fears

Newswire

(Adds analyst quote, more detail) LONDON, Nov 26 (Reuters) - Debt protection costs on German tyres and auto parts maker Continental AG soared on Wednesday with the risk of default deemed so high that an upfront payment is now needed to buy credit default swaps. "In addition to the weak economic environment and high level of debt, weakening cash flow will probably add pressure to the company's liquidity," said Pierre Bergeron, a credit analyst at SG CIB. Trading upfront means the ...

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