Credit Suisse seeks to calm market jitters [FOX Business Network]
Credit Suisse Group American Depositary Shares (CS)
US:NYSE Investor Relations:
credit-suisse.com/corporate/en/investor-relations.html
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Source: FOX Business Network
Credit Suisse Group AG tried to assuage fears about its health in a memo to employees and in a round of phone calls to investors and clients over the weekend, according to people familiar with the matter. Credit Suisse shares tumbled 9% early Monday and are down nearly 30% over the past month. Spreads on its credit-default swaps, a type of insurance against default, rose to their highest level of the year on Friday. The deteriorated market condition indicates that Credit Suisse could struggle to raise new shares to pay for a planned restructuring and that its funding costs could rise sharply. There hasn't been a formal approach to any shareholders about issuing new shares, the people familiar with the matter said. Credit Suisse Group Ticker Security Last Change Change % CS CREDIT SUISSE GROUP AG Powered By Credit Suisse in late July said it would refashion its investment bank and exit some other businesses to become a leaner, less risky institution, following
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