Posted AT 9:38 PM EST on 08/03/06
EDC impaired loans up
The federal Crown corporation that finances exports has seen a drastic rise in its outstanding bad loans because of troubles in the aerospace sector.
Export Development Canada said Wednesday that 18.4 per cent of its loans are impaired, up from 11.1 per cent a year earlier, mainly because of loans to several U.S. airlines that are now in bankruptcy protection.
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