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焦点：物言う株主に苛立つ米社債投資家、利益還元で信用力低下も | Reuters

ことし物言う株主の標的になった企業の株価は、こぞって上昇している。

しかし社債投資家は、企業が株主還元のために債務を増やし、信用力が落ちて社債保有者に損失を負わせる可能性を恐れている。

Analysis: Rise of shareholder activism gives bond investors headaches | Reuters

Activist targets such as Apple Inc (AAPL.O), Chesapeake Energy Corp (CHK.N), Sotheby's (BID.N) and Safeway Inc (SWY.N) have all seen stock prices rise this year, netting tidy rewards for their largest shareholders.

But bond investors fear the pressure on companies to return cash to shareholders has prompted them to take on more debt, which can erode credit quality and potentially saddle bondholders with losses.