Registered: Oct 2002
11-01-11 09:09 PM
Quote from benwm:
I always like to reflect what was said in the run up to a corporate failure...
On October 24th, MF Global said the portfolio is sound and well structured" following Moody's Investor Service downgrade to Baa3.
"All of the European government securities mature by December 2012 before the expiration of the regions rescue fund, the European Financial Stability Facility", the company said.
We are confident that we have the resources, capital, liquidity and expertise to successfully manage our European exposures to their end date maturity of December 2012, Diana DeSocio, a spokeswoman for the broker, said in the e-mailed statement.
The maturity characteristics, ratings profile and European support facility for lower rated credits reinforce our view that that the portfolio is sound and well-structured.
This might be even correct. I've read that their euro bonds are mostly trading at 99c on the dollar