Aegon deferral risk drops after EC approves state aid plan
Credit default swaps and cash bond spreads of Dutch insurer Aegon tightened this week after the company came to an agreement with the European Commission for the repayment of the Eu2bn of state aid it still owes to the Dutch government.
The issuers subordinated CDS moved in by 10bp while cash spreads tightened by a handful of basis points.
Fitch upgraded Aegons perpetual hybrid debt from BB to BBB after the announcement."From a ratings perspective, the crucial point in Aegons announcement is that there is no reference to ...