Corporate Distress Spreads; Energy Junk Is a Haven
The Credit Edge by Bloomberg Intelligence
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Occidental: The Poster Child for High Yield Oil and Gas Companies
Warren Buffett is buying shares in oil and gas company Occidental. He lent them money for the anadarco acquisition, which didn't turn out too well. They've since paid off about $20 billion a debt and are on the verge of moving back into the Bloomberg investment grade index. It's really hard to say where that line is crossed; Berkshire owns about 24% of Occidental today.
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