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URL:  http://boards.fool.com/no-worries-figured-you-are-still-pretty-hooked-on-30466220.aspx

Subject:  Re: OT: Kinda, Sorta, Maybe Date:  1/4/2013  12:34 PM
Author:  altstrat91 Number:  34589 of 35357

no worries. figured you are still pretty hooked on bonds. nice trade on travelport; just saw a 1000 block filled @ $53.

i just wanted to share a hit i got on my scan, now that i am really digging into the deeper end here of the risk pool. you probably already know this or might own it, so i will give you the cliff notes version:

Ameren's 2018 bonds trading at $78
CUSIP = 02360XAL1
yield = nearly 13%

in a nutshell, there has been a tangible split between AEE & Genco. basically genco can no longer get financial support from AEE; so Genco has to be completely and solely responsible now for all three AEE named debt floats; the 1st one redeeming in 2018; another one in 2022 (i think) and third in 2032. ((we kind of already knew this along time ago, but now its finally official))

both fitch and S&P have recovery ratings in the 2 range or 70-90%. fitch actually just put out a very detailed piece that you can see on reuters. i am not sure if i can post a link or not? given where the 2018's are trading right now, might be something to look at.
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