Jaguar Land Rover bond risk falls most on record as China sales revive

Sentiment toward Jaguar Land Rover (JLR) Automotive is improving at an unprecedented pace, after stabilisation in its China business helped the premium British carmaker’s parent report a narrower loss than expected. So say the debt markets, where credit-default swaps insuring against default at the company dropped a record 268 basis points in October to 538. The cost to buy protection against JLR bond non-payment had been as high as 943 basis points in February.

JLR’s retail sales in China grew at double digits for the three months through September as new product launches boosted sales. The number had plunged by double