US CREDIT-CDS market signals concerns about McClatchy

Newswire

NEW YORK, Feb 23 (Reuters) - McClatchy Co has won some breathing room with a major debt refinancing, but its credit protection costs remain high, signaling that investors have lingering questions about the newspaper publisher's future. McClatchy's five-year credit default swaps tightened 80 basis points to 859 basis points on Jan 27 when the publisher reported encouraging fourth-quarter results and announced an $875 million note offering to pay down bank debt and bonds. The transaction ...

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