DelphX Capital Markets (TSE:DELX) has released an update.
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DelphX Capital Markets Inc. has announced a letter of intent with hedge fund counterparties to provide up to $3 billion in credit spread protection for its innovative Credit Rating Securities (CRS) program. The CRS program offers a new risk management tool for insurance companies and other institutional investors to guard against losses from bond rating downgrades. DelphX is continuing discussions with potential buyers and will provide further updates on the CRS program’s progress.
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