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Ukraine debt insurance costs edge up, off near-4-yr highs-Markit

Source: Reuters - Wed, 4 Dec 2013 10:12 AM
Author: Reuters
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LONDON, Dec 4 (Reuters) - Ukraine's debt insurance costs rose slightly on Wednesday but kept below recent near-four-year highs as Ukrainian ministers met for a cabinet meeting despite an attempted blockade by demonstrators.

A crisis over the Ukrainian government's rejection of closer ties with the European Union has added to investor concern about Ukraine's ability to repay its debts.

Ukraine's five-year credit default swaps rose 9 basis points from Tuesday's close to 1,097 bps, according to Markit. However, they stayed below near-four-year highs above 1,100 bps set in the previous session.

CDS prices of 1,000 bps and above indicate debt at distressed levels.

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