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Company Credit Swaps in U.S. Fall to Six-Year Low

Investors take increasing pace of hiring and number of open jobs to be positive indicators of companies' creditworthiness.

By Callie Bost, Bloomberg | Updated on November 22, 2013

A gauge of U.S. company credit risk fell to the lowest level since 2007 as job openings climbed to a five-year high. The cost to protect the debt of Time Warner Cable Inc. against losses decreased.

The Markit CDX North American Investment Grade Index, a credit-default swaps benchmark that investors use to hedge against losses or to speculate on creditworthiness, decreased 1.7 basis points to 68.8 basis points as of 4:22 p.m. in New York, according to prices compiled by Bloomberg. The benchmark is poised to reach the lowest closing level since November 2007.

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