ECB Ditches Steinhoff Bonds, Swallowing Steep Losses

Posted on 01/10/2018


The European Central Bank (ECB) has offloaded its bond holdings in scandal-ridden Steinhoff International Holdings NV, swallowing losses potentially in the tens of millions on debts that at the time of their purchase only six months ago carried an investment grade rating from Moody’s. The news comes just days after Steinhoff’s chief financial officer, Ben […]