Distressed CMC Ravenna stokes HY’s Italian fears

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Distressed CMC Ravenna stokes HY’s Italian fears

BNDES HQ
An activist dressed as Brazil's President Dilma Rousseff blows fire in front of the Brazilian National Development Bank (BNDES), background, during the United Nations Conference on Sustainable Development, or Rio+20, in Rio de Janeiro, Brazil, Monday June 18, 2012. Activists protested against regression of Brazil's environmental policies during President Rousseff's government, including the Belo Monte Hydroelectric power plant construction, and the new Forest Code. (AP Photo/Felipe Dana) | Felipe Dana/AP/Press Association Images

The risk appetite of high yield bond investors in Europe continues to pall, as Italian construction firm Cooperativa Muratori e Cementisti di Ravenna filed for creditor protection this week.

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