May 24, 2019 / 8:29 AM / 6 months ago

French retailer Casino's CDS rate drops from record high

LONDON, May 24 (Reuters) - The cost to insure corporate debt in French retailer Casino fall sharply on Friday while shares in parent company Rallye plunged to record lows after being placed under creditor protection on Thursday.

Casino’s five-year credit default swaps (CDS) fell by 174 basis points to 536 bps from Thursday’s close after hitting record highs highs, IHS Markit data showed.

Shares in Rallye and Casino resumed trading on Friday after being suspended the previous day. (Reporting by Josephine Mason Editing by David Goodman)

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