It's scary to think that big Canadian icons like Suncor and Canadian Natural Resources may be on the verge of bankruptcy, but charts don't lie. The credit market believes there's a real risk that these two companies could be in for some serious trouble, and I would tend to agree should oil prices remain at these levels for much longer. Price spikes come and go, but sustained increases in the price of credit protection like these need to be duly noted.
Ownership Disclosure: I do not currently own SU shares.
Disclaimer: Any information contained in the above article represents my opinions only, and should not be construed as personalized investment advice. I cannot assess, verify or guarantee the suitability of any particular investment to any particular situation and the reader of the article bears complete responsibility for its own investment research and should seek the advice of a qualified investment professional that provides individualized advice prior to making any investment decisions. All opinions expressed and information and data provided therein are subject to change without notice.