Monday, February 15, 2010

Dubai May Offer Creditors Only 60 Cents on the Dollar

This will make Greek debt holders real comfortable.

Dubai stocks retreated and the price of insuring against a default in the city-state rose following news that flagship corporation Dubai World may offer creditors just 60% of the money they are owed as part of a deal to reschedule $22 billion in debt, reports WSJ.

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