US CREDIT - Cendant volatile on split uncertainty


NEW YORK, Oct 25 (Reuters) - Credit investors calmed down somewhat regarding Cendant Corp. on Tuesday, the day after the travel, lodging and real estate services company said it planned to split into four companies. Credit spreads on the low-investment-grade company blew out on Monday after the New York-based owner of Avis car rental, Days Inn and the Century 21 real estate brand announced plans to reverse years of expansion via dozens of acquisitions and break-up. Five-year default ...

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