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Fitch Solutions: TeliaSonera CDS at Widest Level in Four Years

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TeliaSonera's five year Credit Default Swaps (CDS) widened 73% Thursday to price at the widest levels observed in four years, according to Fitch Solutions in its latest CDS Case Study Snapshot.

After consistently trading at 'AA/AA-' levels for the past year, based on current spread levels, the market is pricing TeliaSonera's credit risk in 'BBB' territory.

"Spread widening for the Swedish telecom is likely emanating from market concerns surrounding alleged corrupt practices within its Eurasian businesses, which the company has stated it is seeking to exit," said Diana Allmendinger, Director, Fitch Solutions.

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