Distressed debt from emerging markets down the most since 2008


LOSSES in emerging market distressed debt have mounted to the worst since the global financial crisis led by Indonesian coal miner PT Bumi Resources and ZAO Russian Standard Bank.

Bank of America Merrill Lynch's distressed emerging markets corporate index tumbled 2.7 per cent yesterday after a 5.6 per cent drop in November. The gauge, which tracks 108 dollar-and euro-denominated debentures from Russia to China and Brazil, has retreated 9.8 per cent this year, the most since a 36.8 per cent...

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