Bond investors are actively hedging against Oracle. The cost to insure the software company's debt reached a record high this week. Its 6.7% bonds maturing in 2056 crossed an 8% yield for the first time. It sits half a percentage point higher than the average yield for lower-tier B2/B debt. Oracle currently holds a Baa2/BBB- credit rating. One downgrade drops it into junk territory.
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