Woolworth's bond risk surges as supermarket competition spikes
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THE battle for the shopping dollar of Australians buffeted by a slowing economy is pushing up bond risk for Woolworths Ltd, the nation's biggest supermarket chain.
The cost of protecting bonds issued by Woolworths using credit-default swaps climbed to 66 basis points on April 2, the highest level since October 2013. Woolworths CDS in March rose above contracts for Wesfarmers Ltd, owner of the second-largest supermarket chain Coles, for the first time in about 10 months and reached the highest level on a relative basis since 2011, according to CMA pricing.
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