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Japan

Submission + - TEPCO breaks credit default swap record (bloomberg.com)

mdsolar writes: "The cost of protecting Tokyo Electric Power Co.’s debt from default surged to a record amid reports the utility will post Japan’s largest corporate loss when it announces earnings today following the Fukushima nuclear crisis.

Credit-default swaps on Tokyo Electric’s debt jumped 221 basis points to 726, topping BP Plc’s record set last year amid the oil spill disaster in the Gulf of Mexico."

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