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Dealers trading on separate International Swaps and Derivatives Association templates for credit-default swaps on asset-backed securities in Europe and the U.S. said a proposal is being floated to move the European form closer to the U.S. version.

--Olivier Renault, credit strategist at Citigroup in London, discussing the potential fallout if General Motors Corp. defaults.

--J. Braxton Carter, senior v.p. and cfo of MetroPCS, on the loan market's approval of a new greenshoe provision in the company's bank deal.

Credit derivative officials are starting to take measure of the potentially mammoth scale of losses if auto giant General Motors Corp. defaults, according to Derivatives Week, a CIN sister publication.

Drax Power's bank debt soared more than 27 points to 427 on the eve of its listing on the London Stock Exchange.

Fitch Ratings is getting caught up in the Hot Stove league, just like millions of other Major League Baseball fans.

Weiss, Peck & Greer has hired Peter Lupoff, formerly of EagleRock Capital Management and Azura Capital Partners, to spearhead an increased push into the distressed debt market.

Bear Stearns has obtained lender consent to put in place a new $550 million greenshoe provision for MetroPCS and concurrently draw on an existing $150 million greenshoe that is priced over par for existing investors.

Eric Green, director of research and a senior portfolio manager of around $500 million in high-yield bonds at PENN Capital Management, is looking overseas to find value in the gaming sector.

Credit Suisse First Boston, Citigroup, JPMorgan and Banc of America Securities were jostling for the top spot in Thompson Financial's year end high yield league tables.

This chart, provided by Citigroup Global Markets, tracks bid-ask prices for par credit facilities that trade in the secondary market.

The following charts show the top five advancers and decliners in terms of % moves in the loan, bond and credit default swap markets for the previous week. Data provided by Markit Group.