CDS spreads widen on eastern European sovereign debt

The cost of credit protection on the senior debt of some eastern European states rose again in early trading today, while also rising on European insurers.

Five-year senior credit default swap (CDS) spreads referencing Bulgaria widened to 715 basis points at 14:30pm London time from 680.3bp at the close of New York trading yesterday. CDSs on Croatia reached 608.3bp from 579.0bp, according to data from credit information specialist CMA Datavision.

Spreads on Lithuanian debt moved out 25bp to 850bp, while the cost of CDS protection widened 14.3bp to 1114.3bp on neighbor Latvia, and by 18.3bp to 785.9bp on Romania.

Elsewhere, insurers continued to

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