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Credit Thaw
Signs of credit-market thaw emerging.Date published: 1/14/2009 NEW YORK (AP) - There are signs that government efforts to unfreeze the credit markets are working. Companies are selling bonds at a pace not seen since last spring, in a promising turn that could bolster the economy. Companies are also finding it easier to issue commercial paper. Those are the short-term loans necessary for quick access to cash. Data-tracker Dealogic says global sales of new corporate debt jumped to $82 billion last week. That's the highest since $103 billion last May and nearly double the level seen right before the credit crisis intensified in September. The thawing means companies such as Cablevision Holdings Corp. and General Electric Co. can raise money more easily for everything from payrolls to paying down debt. That's an important shift that ultimately could benefit consumers.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
Date published: 1/14/2009
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